Agency
When a Vermont licensee changes from representing the seller to representing the buyer in the same transaction, they must:
ASimply notify the other agent
BObtain informed written consent from the seller before switching, or fully withdraw from the seller's representation✓ Correct
CFile a form with the VREC
DAutomatically become a transaction broker
Explanation
Switching from representing the seller to representing the buyer in the same transaction is a significant conflict of interest in Vermont. The agent must either obtain full informed written consent from the seller (acknowledging the switch) or completely withdraw from the seller's representation before assisting the buyer.
Related Vermont Agency Questions
- In Vermont, which document formally establishes a seller's agency relationship with a listing broker?
- Which of the following actions by a Vermont agent is an example of a breach of the duty of 'obedience'?
- Vermont requires a licensee to provide agency disclosure to a consumer:
- Material facts that a Vermont listing agent must disclose to buyers include:
- In a transaction where both the buyer and seller are represented by agents from the same brokerage, the brokerage is considered to be:
- When a Vermont listing broker receives an offer significantly below the asking price, the broker must:
- The duty of 'obedience' in a Vermont agency relationship means the agent must:
- A Vermont licensee acting as a property manager is considered to be acting in a:
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