Agency
In Virginia, a real estate agent who hosts an open house for another agent's listing is:
AThe seller's agent by default
BActing on behalf of the listing broker and should clarify their role to visitors✓ Correct
CAutomatically a buyer's agent for any visitors
DA dual agent for all visitors
Explanation
An open house agent is typically acting on behalf of the listing broker (and thus the seller). They should disclose who they represent when visitors enter.
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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.
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.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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