Agency
Under Virginia's designated agency law, when both a buyer and seller are represented by agents within the same brokerage and the broker becomes a dual agent, the broker must:
AImmediately terminate one representation
BDisclose the dual agency to both parties and obtain their informed written consent✓ Correct
CTransfer one client to another brokerage
DReport to VREB within 24 hours
Explanation
When designated agency creates a dual agency situation (both parties represented within the same firm), the broker must disclose this to both parties and obtain their written, informed consent to proceed.
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