Agency
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:
AImmediately withdraw from the transaction
BVerify the situation and ensure proper dual agency disclosures are in place if the same agent represents both buyer and seller✓ Correct
CSay nothing and proceed with the showing
DReport the listing agent to the WVREC immediately
Explanation
If a dual agency situation exists, all parties must be properly disclosed and must provide informed written consent. The buyer's agent should verify that proper disclosures are in place rather than assume an improper arrangement exists.
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Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
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