Agency
In Washington, an agent who has a conflict of interest in a transaction must:
AContinue to represent their client regardless
BDisclose the conflict to all parties and obtain written consent or withdraw from the representation✓ Correct
CImmediately terminate their license
DReport the conflict to the DOL before proceeding
Explanation
Washington brokers who have a conflict of interest in a transaction must promptly disclose the nature of the conflict to all affected parties. If the parties do not consent to the broker's continued representation, the broker should withdraw.
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Key Terms to Know
Lien
A 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.
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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