Agency
A Washington real estate agent is buying a property from their own listing. This is called a:
ADual agency — the agent represents both sides
BSelf-dealing or purchasing as a principal, requiring written disclosure to the seller✓ Correct
CExempt transaction because the agent is the buyer
DProhibited transaction under RCW 18.85
Explanation
When a licensee purchases property they have listed, it is self-dealing. Washington law requires the licensee to disclose their licensed status and any personal interest in writing to the seller before making an offer.
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Key Terms to Know
Agency
A 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.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
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