Agency
A Virginia real estate licensee who provides brokerage services but does not represent either party as a client is acting as a:
ABuyer's agent
BSeller's agent
CDual agent
DIndependent contractor with no brokerage relationship✓ Correct
Explanation
In Virginia, a licensee may provide services without forming a brokerage relationship (no representation). In this case they owe limited duties but not full fiduciary duties to either party.
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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