Agency
In West Virginia, when a single broker represents both the buyer and seller in the same transaction with both parties' written consent, this is called:
ASubagency
BDual agency✓ Correct
CDesignated agency
DTransactional brokerage
Explanation
Dual agency occurs when a single broker represents both buyer and seller in the same transaction. West Virginia permits dual agency only with written informed consent from both parties.
Related West Virginia Agency Questions
- A West Virginia listing agent who represents the seller and cooperates with a buyer's agent from another brokerage is participating in:
- In West Virginia, a subagent owes fiduciary duties to:
- The fiduciary duty of accounting in West Virginia requires a real estate agent to:
- A West Virginia tenant who is shown a property by a leasing agent working for the landlord should understand that the leasing agent:
- When a West Virginia licensee represents a buyer under a written buyer's agency agreement, the buyer is considered the licensee's:
- Under West Virginia law, a real estate licensee's agency relationship with a client is primarily established by:
- In West Virginia, the duty of 'reasonable care' owed by a real estate agent to their client requires the agent to:
- A West Virginia seller accepts an offer but asks the listing agent to hold it and not present it to a buyer who expressed interest the prior day. The listing agent must:
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