Agency
The agency relationship between a broker and client is automatically terminated upon:
AThe listing expiring or the transaction closing✓ Correct
BThe agent going on vacation
CA new listing being taken
DThe broker hiring a new salesperson
Explanation
Agency relationships terminate upon expiration of the agreement, completion of the purpose (closing of the transaction), mutual agreement, death or incapacity of either party, or revocation.
Related West Virginia Agency Questions
- A broker in West Virginia who represents neither the buyer nor the seller, and only facilitates the transaction, is called a:
- In West Virginia, a 'dual agency' occurs when:
- A West Virginia listing agent who exaggerates the features of a property to entice a buyer may be guilty of:
- A West Virginia seller cancels the listing agreement before it expires without cause. The broker may be entitled to:
- A West Virginia buyer asks their agent to help draft an offer well below market value in hopes the seller is desperate. The agent should:
- Which of the following is a fiduciary duty owed by a West Virginia buyer's agent to their client?
- In West Virginia, a 'net listing' is controversial primarily because:
- In West Virginia, the duty of 'loyalty' owed by a real estate agent to their client means the agent must:
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