Agency
In Wyoming, a licensee who represents themselves as a buyer's agent without a written agreement but has acted in that capacity has created:
ANo agency relationship
BAn implied agency through their conduct✓ Correct
CA dual agency automatically
DAn illegal arrangement subject to WREC penalties
Explanation
Implied agency arises from the conduct of the parties rather than an express agreement. If a licensee has been acting as a buyer's agent (showing property, negotiating, advising), an implied agency may exist even without a written agreement. Written agreements are always preferable to prevent misunderstandings.
Related Wyoming Agency Questions
- When a Wyoming real estate agent represents a buyer in a transaction, which of the following information should the agent NOT share with the seller?
- A buyer's agent in Wyoming owes the duty of 'accounting' to their client. This means the agent must:
- Under Wyoming agency law, 'apparent authority' means:
- A Wyoming licensee's agency agreement with a buyer expires. The buyer then makes an offer on a property the agent showed them during the agency period. The agent:
- A Wyoming buyer's agent learns the buyer's maximum budget is $500,000 though they are offering $440,000. This information is:
- Dual agency in Wyoming is:
- In Wyoming, a real estate licensee who provides 'ministerial acts' to an unrepresented party:
- A Wyoming salesperson working for ABC Realty is working with a buyer and discovers their broker also holds the listing. This situation creates:
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