Agency
A Rhode Island broker who represents both the buyer and seller in the same transaction with informed written consent from both parties is operating as a:
ADesignated agent
BNon-agent facilitator
CDual agent✓ Correct
DTransaction broker
Explanation
Dual agency in Rhode Island occurs when a broker represents both the buyer and seller in the same transaction. It is permissible only with the informed written consent of both parties.
Related Rhode Island Agency Questions
- Under Rhode Island law, a 'non-exclusive buyer agency agreement' means:
- Which type of listing agreement gives only ONE broker the right to sell, but the owner retains the right to sell the property themselves without paying a commission?
- A Rhode Island listing agent is approached by a buyer who is not working with their own agent. Can the listing agent assist this buyer?
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