Agency
In Utah, a buyer's agent who represents the buyer in a transaction where the listing is held by the same brokerage must:
AWithdraw from the transaction
BDisclose the dual agency situation and obtain written consent from both parties✓ Correct
CAutomatically become a transaction coordinator
DReduce their commission to avoid a conflict of interest
Explanation
When both buyer and seller are represented within the same brokerage, dual agency exists and requires written disclosure to and consent from both the buyer and seller.
Related Utah Agency Questions
- Which type of agency relationship is created when a seller signs a listing agreement with a brokerage?
- When a Utah principal broker designates one agent to represent a buyer and a different agent to represent the seller in the same transaction, this is:
- A Utah buyer's agent who agrees to receive compensation from the seller (through the MLS offer of compensation) must disclose this to:
- When does an agency relationship between a seller and listing agent typically terminate?
- When a Utah buyer's agent receives information that suggests the seller may have concealed a defect, the agent's duty is to:
- When a Utah listing agent discovers that a buyer is represented by another agent at the same brokerage, the situation creates:
- A Utah agent representing a buyer in a multiple-offer situation should advise the buyer to:
- An agent's duty of 'care' in Utah means the agent must:
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