Agency
Which of the following statements about subagency in Wyoming is most accurate?
ASubagency is required on all MLS listings
BSubagency creates an agency relationship between a cooperating broker and the seller✓ Correct
CSubagency is always the preferred form of buyer representation
DWyoming prohibits subagency entirely
Explanation
In a subagency arrangement, a cooperating broker (the selling agent) represents the seller's interests rather than the buyer's. Though less common today due to buyer agency, subagency still exists and means the cooperating broker is technically the seller's agent.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
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