Agency
Which of the following best describes 'subagency' in Vermont real estate practice?
AWhen a buyer's agent works under a listing agent in the same transaction
BWhen a cooperating agent, while working with a buyer, actually represents the seller through the listing broker✓ Correct
CWhen two brokers share a listing agreement
DWhen a licensee works part-time
Explanation
Subagency occurs when a cooperating broker assists a buyer but actually represents the seller as a sub-agent of the listing broker. Vermont requires disclosure of agency relationships, and subagency has largely been replaced by buyer's agency in modern practice.
Related Vermont Agency Questions
- In Vermont, a 'designated agency' arrangement allows:
- A Vermont seller's agent who has not signed a written agency agreement with the seller but has been acting as their agent may still owe:
- A Vermont seller's agent learns that the seller's property has a structural defect unknown to the buyer. The agent's duty is to:
- Vermont's 'seller's disclosure obligation' to their listing agent includes revealing:
- Vermont's 'market knowledge' duty requires a buyer's agent to:
- Vermont's 'informed consent' for dual agency requires that before proceeding the parties must understand:
- At what point does a Vermont agency relationship between a broker and seller typically terminate?
- Vermont's Multiple Listing Service (MLS) allows participants to:
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