Agency
What is 'subagency' in Pennsylvania real estate and how has its prevalence changed?
AA newer agency concept where a salesperson works under a broker
BA relationship where the buyer's agent (cooperating broker) actually represents the seller through the listing broker; this arrangement is now rare as buyer agency has become standard✓ Correct
CThe relationship between PREC and individual licensees
DA commercial leasing agency arrangement used for multi-tenant buildings
Explanation
Traditionally, cooperating agents who brought buyers to a listing were subagents of the listing broker, representing the seller. Subagency created confusion because buyers thought their 'agent' represented them.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
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