Agency
Which of the following describes a transaction broker in West Virginia?
AAn agent who exclusively represents the buyer
BAn agent who exclusively represents the seller
CA licensee who assists both parties without representing either as a fiduciary✓ Correct
DA broker who manages the escrow account
Explanation
A transaction broker (or facilitator) assists both buyer and seller in completing a transaction without representing either party as a fiduciary. The broker remains neutral and owes limited duties to both parties.
Related West Virginia Agency Questions
- The agency relationship between a broker and client is automatically terminated upon:
- Under a dual agency arrangement in West Virginia, the agent may NOT:
- A West Virginia buyer's agent who negotiates exclusively in the buyer's best interest is fulfilling the duty of:
- A West Virginia real estate agent who owns a property management company and refers landlord clients to their property management business must:
- In West Virginia, which form of agency allows a broker to designate separate agents within the same brokerage to exclusively represent the buyer and seller in a transaction?
- In West Virginia, a written buyer representation agreement that includes an exclusivity clause means:
- A West Virginia listing agent who knows the seller is concealing a leaking basement should:
- A West Virginia licensee represents a seller under a listing agreement. The listing agent's primary fiduciary duties include all of the following EXCEPT:
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