Agency
Vermont's 'informed consent' for dual agency requires that before proceeding the parties must understand:
AOnly the commission to be paid
BThat the agent cannot advocate fully for either party and that confidential information may not be fully protected✓ Correct
CThat the transaction must close within 30 days
DThat the agent will share all information between both parties
Explanation
Informed consent for dual agency requires the parties to understand that the agent cannot be a full advocate for either party, that the agent's duties to both limit the level of representation, and that some confidential information may not be as fully protected.
Related Vermont Agency Questions
- Which of the following best summarizes the six fiduciary duties a Vermont agent owes their client, often remembered by the acronym 'COAL DR' or 'OLDCAR'?
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- Which of the following would NOT terminate an agency agreement in Vermont?
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- Vermont's seller's agent who gives the buyer inaccurate information about the property's septic capacity is:
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