Agency
A West Virginia salesperson's license is issued in the name of:
AThe salesperson only
BThe sponsoring broker, with the salesperson as an employee
CBoth the salesperson and sponsoring broker✓ Correct
DThe WVREC, not the individual
Explanation
In West Virginia, a salesperson's license is issued in the salesperson's name but is associated with their sponsoring (employing) broker. The salesperson may only perform licensed activities under the supervision of the broker.
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Key Terms to Know
Agency
A 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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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