Agency
A Vermont broker's policy requires all affiliated licensees to use designated agency for in-house transactions. What must the broker do when both the listing agent and buyer's agent are from the same firm?
AAutomatically become a dual agent for both parties
BDesignate separate agents to represent the buyer and seller respectively, with each owing full fiduciary duties to their own client✓ Correct
CTransfer the listing to another firm
DRequire both clients to work without agent representation
Explanation
Under Vermont designated agency, the broker designates one affiliated agent to exclusively represent the buyer and a different affiliated agent to exclusively represent the seller. This allows each party to have a dedicated advocate, avoiding the limitations of dual agency.
Related Vermont Agency Questions
- The duty of 'obedience' in a Vermont agency relationship means the agent must:
- A Vermont buyer's agent must exercise which skill when advising a client on making an offer price?
- Vermont's buyer's agency agreement should specify:
- When a Vermont seller's agent shows the seller's property to a buyer, the agent should treat the buyer as a:
- A Vermont agent who receives a material adverse fact from their buyer client during negotiations — that the buyer has already found another property and will offer much less — must:
- Vermont's 'agency confirmation' at the time of contract preparation requires agents to:
- Vermont's Multiple Listing Service (MLS) allows participants to:
- In Vermont, the duty of 'confidentiality' in an agency relationship means an agent must:
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