Agency
In West Virginia, an agent who represents a buyer in a transaction but is paid by the seller through the MLS cooperative compensation arrangement is:
AActing illegally because the seller is paying them
BA buyer's agent — compensation source does not determine agency✓ Correct
CAutomatically a subagent of the listing broker
DRequired to reduce their services to the buyer
Explanation
Compensation source does not determine agency. A buyer's agent can be paid through cooperative compensation from the seller's proceeds while still owing full fiduciary duties to the buyer.
Related West Virginia Agency Questions
- In West Virginia, an implied agency relationship may be created by:
- Which of the following is a fiduciary duty owed by a West Virginia buyer's agent to their client?
- A West Virginia real estate agent who has a personal financial stake in a property they are listing or selling for a client must:
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- Under West Virginia law, a real estate licensee's agency relationship with a client is primarily established by:
- A broker in West Virginia who represents neither the buyer nor the seller, and only facilitates the transaction, is called a:
- 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 buyer's agent who discovers the seller is concealing a known hazardous waste issue on the property should:
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