Agency
Under Washington's RCW 18.86, what is the minimum agency disclosure requirement when a licensee represents both buyer and seller in the same transaction?
AWritten disclosure to the party paying the commission only
BWritten disclosure and consent from both the buyer and seller✓ Correct
CVerbal disclosure to both parties is sufficient
DNo disclosure is required if both parties know the same licensee
Explanation
Washington's agency law requires written disclosure and informed written consent from both buyer and seller before a licensee may proceed as a dual agent (representing both parties in the same transaction).
Related Washington Agency Questions
- A Washington seller tells their listing agent that they would accept $475,000 for their home listed at $510,000. A buyer's offer comes in at $480,000. The listing agent can tell the buyer's agent:
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