Question

If an agent represents a buyer who becomes interested in a property that the agent has listed with the seller and the agent then discloses the relationship with the principals to both principals, and the principals agree in writing to move ahead, this is called:_______.

Answer 1

dual agency.

Step-by-step explanation:

In real estate, a dual agency happens when one single agent represents both the buyer and the seller. In order for this to happen, both the buyer and the seller must sign a Consent for Dual Agency where they affirm that they know about the situation and that they are OK with it. In this case, the agent does not owe undivided loyalty to either of them. But that doesn't mean that the transaction cannot be completed as usual.