Agency
Dual agency in Wyoming is:
AIllegal under all circumstances
BPermitted with informed written consent of all parties✓ Correct
CAutomatically permitted when both parties use the same brokerage
DOnly permitted in commercial transactions
Explanation
Wyoming permits dual agency when both the buyer and seller provide informed written consent after being advised of the potential conflicts of interest. Without written consent, dual agency is prohibited.
People Also Study
Related Wyoming Questions
- Under Wyoming law, when must a real estate agent disclose their agency relationship to a potential client?Agency
- A Wyoming buyer hires an agent to find them a home. Without signing a formal buyer agency agreement, the buyer's agent has:Agency
- A Wyoming commercial property manager receives a tenant's request to sublet their space. Under a standard commercial lease with a 'no assignment or subletting without landlord consent' clause, the manager should:Property Management
- In Wyoming, a licensee who represents both the buyer and seller in the same transaction with both parties' written consent is called a: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:Agency
- A Wyoming landlord who wants to terminate a fixed-term lease before expiration may do so without tenant consent:Property Management
- Under Wyoming's Environmental Quality Act, which agency has authority to regulate potential threats to public water supplies from land use activities?Environmental
Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Study This Topic
Practice More Wyoming Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wyoming Quiz →