Question

In other scenarios, one agent might represent a buyer, while a second agent represents a seller. But if both agents are sponsored by the same broker, then the principals are technically working with the same broker. That makes it an in-house transaction and an example of ____

Answer 1

An in-house transaction occurs when a buyer and seller are represented by agents sponsored by the same broker.

Step-by-step explanation:

An in-house transaction occurs when a buyer and seller are both represented by agents who are sponsored by the same broker. In this scenario, the principals (buyer and seller) are technically working with the same broker. This type of transaction is common in the real estate industry.

For example, let's say a buyer is interested in purchasing a house and approaches an agent who is sponsored by a broker. The agent helps the buyer find a suitable property. On the other side, a seller also approaches an agent from the same broker to list their house for sale. In this case, if both agents work under the same broker, the transaction would be considered an in-house transaction.