Agency
A Washington real estate firm has a buyer client looking for a rental investment property. The firm also manages properties for a property owner who is looking to sell. If the firm represents both buyer and seller, Washington law requires:
AThe firm to withdraw from representing one party
BWritten disclosure of the dual agency and informed consent from both parties✓ Correct
CNo disclosure if different agents handle the two clients
DDisclosure only if both clients are first-time buyers/sellers
Explanation
Even with different agents representing different parties, when they are from the same firm, Washington law requires written disclosure and informed consent from both parties about the in-company/dual agency situation, as the firm (not just individual agents) owes duties to both parties.
Related Washington Agency Questions
- A Washington real estate licensee represented the buyer in a transaction last year. The same client returns with a new property in mind. The licensee must:
- Under Washington's agency law, a seller who gives their broker authority to sign documents on their behalf has granted the broker which type of authority?
- In Washington, an agent who receives an offer for a property after a sale is pending must:
- A Washington buyer's broker shows the buyer a property listed by the same brokerage. If the brokerage represents both parties, this is:
- Under Washington's RCW 18.86, which parties must sign a written agency agreement to establish a buyer's agency relationship?
- Under Washington's agency law, if both the buyer's and seller's brokers are from different firms and the buyer's broker is also the transaction's dual agent, the buyer's broker owes:
- In Washington, a buyer's agent owes the buyer the duty of:
- A Washington seller's listing agreement expires without a sale. The seller then sells the property directly to a buyer the broker introduced during the listing period. Under the listing's 'safety clause' (extender clause), the broker may:
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