Agency
In Rhode Island, subagency means that a cooperating broker working with the buyer is actually an agent of the:
ABuyer
BListing broker
CSeller through the listing broker✓ Correct
DMLS
Explanation
In a subagency arrangement, the cooperating (buyer's) broker acts as a subagent of the listing broker and, through that relationship, is legally the agent of the seller. Subagency has largely been replaced by buyer agency in most transactions.
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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.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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