Agency
A buyer in Wyoming makes an offer on a property listed with the same brokerage that the buyer's agent works for. The buyer and seller have not consented to dual agency. The agents should:
AProceed with the transaction without disclosure
BDisclose the potential dual agency to both parties and obtain written consent before proceeding✓ Correct
CHave one agent represent both parties automatically
DRefer one of the parties to another brokerage immediately without disclosure
Explanation
When both buyer and seller are represented by agents from the same brokerage, a dual agency situation arises. Wyoming requires full written disclosure to both parties and their informed consent before the agents may proceed.
Related Wyoming Agency Questions
- In Wyoming, the agency disclosure must be provided to a consumer:
- Under Wyoming agency law, a buyer's agent owes fiduciary duties to:
- In Wyoming, the duty of disclosure requires a seller's agent to disclose to the buyer:
- A Wyoming buyer's agent discovers that the seller has not disclosed a known roof leak. The buyer's agent should:
- A Wyoming buyer's agent who learns that their buyer client intends to use the property for an illegal purpose should:
- The termination of a Wyoming real estate listing agreement does NOT occur through:
- In Wyoming, a ratification of an agency relationship occurs when:
- A Wyoming buyer's agent learns the buyer's maximum budget is $500,000 though they are offering $440,000. This information is:
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