Agency
A West Virginia buyer's agent enters into a buyer representation agreement. This agreement creates a:
AGeneral agency relationship
BSpecial agency relationship✓ Correct
CUniversal agency relationship
DSubagency relationship with the listing broker
Explanation
A buyer representation agreement creates a special (limited) agency relationship where the agent is authorized to perform specific acts on behalf of the buyer — primarily locating and negotiating the purchase of property.
Related West Virginia Agency Questions
- Under West Virginia law, a real estate licensee's agency relationship with a client is primarily established by:
- Under a dual agency arrangement in West Virginia, the agent may NOT:
- A West Virginia buyer's agent who learns during a showing that the listing agent is also representing the buyer of record on this same property should:
- A West Virginia agent receives an offer on a listed property that is below the listing price. The agent should:
- Under West Virginia law, a subagent is an agent of the listing broker who owes fiduciary duties to:
- Under West Virginia law, a designated agency arrangement means:
- In West Virginia, when a single broker represents both the buyer and seller in the same transaction with both parties' written consent, this is called:
- A West Virginia buyer's agent who discovers the seller is concealing a known hazardous waste issue on the property should:
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