Agency
A West Virginia listing agent who wants to present their own buyer's offer on their own listing must disclose to the seller that they represent the buyer. This creates:
AAn illegal conflict of interest that automatically voids both agency agreements
BA dual agency situation requiring informed written consent from all parties✓ Correct
CNo issue — the seller should simply be grateful for a quick sale
DAn automatic price reduction in the offer
Explanation
When a listing agent represents a buyer making an offer on their own listing, a dual agency exists. West Virginia law requires written disclosure and informed consent from both the seller and buyer before the agent can proceed.
Related West Virginia Agency Questions
- In West Virginia, after the listing agreement expires without a sale, the listing broker's compensation rights are:
- A West Virginia dual agent represents both the buyer and seller in the same transaction. The agent must NOT:
- In West Virginia, which type of listing agreement gives the broker the exclusive right to earn a commission regardless of who sells the property?
- A West Virginia buyer tells their agent confidentially that they can pay up to $250,000 for a house listed at $225,000. The agent is representing both buyer and seller (dual agency). The agent should:
- A West Virginia agent who represents both the buyer and the seller in the same transaction without informed written consent of both parties is engaging in:
- A West Virginia licensee acting as a 'transaction broker' owes which duties to the parties?
- In West Virginia, if a buyer's agent has a personal financial stake in the transaction (such as owning the property being offered for sale), the agent must:
- Under West Virginia law, a listing agreement creates an agency relationship in which the broker represents:
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