Agency
In West Virginia, subagency refers to:
AAn agent who works under a principal broker
BA cooperating broker who represents the seller through the listing broker✓ Correct
CAn agent who represents both buyer and seller
DA transaction facilitator
Explanation
Subagency occurs when a cooperating (buyer's) broker works as a subagent of the listing broker, meaning both agents represent the seller. Subagency is now rare, as most buyers use buyer's agents.
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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.
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.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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