Agency
A Rhode Island agent represents a buyer who makes an offer on a property listed by the agent's own broker. Without a designated agency agreement, this creates:
AA standard buyer agency with no conflict
BAn in-house dual agency situation requiring disclosure and consent of both buyer and seller✓ Correct
CAutomatic termination of the buyer agency
DNo special issues because different salespersons are involved
Explanation
When the buyer's agent and listing agent are affiliated with the same broker and there is no designated agency in place, an in-house dual agency arises. Both buyer and seller must receive written disclosure and provide informed consent.
Related Rhode Island Agency Questions
- An agent who purchases their own listing without full disclosure to the seller is engaging in:
- In Rhode Island, what is a 'safety or extender clause' in a listing agreement and how does it protect the broker?
- A buyer's agent is showing a property listed by another broker in their office. Which type of agency situation arises within the same brokerage?
- In Rhode Island, what is an 'implied agency' relationship?
- In Rhode Island, when does a buyer's agency relationship typically terminate?
- A Rhode Island agent has a client relationship with a buyer and is showing a property listed by the same agent's broker. This creates:
- In Rhode Island, 'vicarious liability' in real estate agency means:
- In Rhode Island, what is the consequence of failing to provide the required agency disclosure to a consumer?
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