Agency
In a transaction where both the buyer and seller are represented by agents from the same brokerage, the brokerage is considered to be:
AA sub-agent of both parties
BA designated or disclosed dual agent✓ Correct
CA transaction broker with no agency duties
DOnly representing the seller since the listing was obtained first
Explanation
When a brokerage represents both buyer and seller in the same transaction, it creates a dual agency situation. Vermont requires written informed consent from both parties for a disclosed dual agency arrangement.
Related Vermont Agency Questions
- Vermont requires that a written agency disclosure be provided to consumers:
- A Vermont buyer's agent arranges a showing of a property listed by another broker. At the showing, the buyer's agent notices the deck appears structurally unsound. The buyer's agent should:
- Vermont's principle of 'informed consent' for dual agency means both buyer and seller must:
- A Vermont listing agent learns that the basement has flooded twice in the past three years. The seller asks the agent not to disclose this. The agent should:
- Vermont's 'undivided loyalty' duty in a buyer's agency means the agent must:
- In Vermont, undisclosed dual agency is:
- Vermont agency relationships may be terminated by:
- A Vermont licensee who is a transaction broker (facilitator) owes the parties:
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