Agency
A South Dakota real estate agent representing both buyer and seller in the same transaction must:
AWithdraw from representing one party
BObtain informed written consent from both parties before proceeding as a dual agent✓ Correct
COnly represent the seller as the listing agent
DProvide dual agency disclosure only after the offer is accepted
Explanation
South Dakota requires that a dual agent (representing both buyer and seller) obtain informed written consent from both parties. The agent must disclose the dual agency relationship and its limitations before proceeding.
Related South Dakota Agency Questions
- In South Dakota, an agent who tells the seller that 'prices always go up, you can't go wrong' is engaging in:
- In South Dakota, the agent's duty of 'accounting' to the principal means the agent must:
- In South Dakota, a listing agent has a duty to present all written offers to the seller. If the seller is unavailable and an offer has a short deadline, the agent should:
- A South Dakota listing agent who receives an offer below the listed price must:
- In South Dakota, when must an agency disclosure be provided to a potential client?
- In South Dakota, the agent's duty to the principal of 'loyalty' means the agent must place the client's interests:
- A South Dakota broker who is found to have negligently supervised a salesperson who committed fraud may be subject to:
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