Sarah is a real estate agent representing both the buyer and seller in the same transaction. What type of representation is this called and what must she do?
Correct Answer
B) Multiple representation; she must obtain written consent from both parties
Multiple representation occurs when the same agent represents both buyer and seller in a transaction. Written informed consent from both parties is mandatory, and the agent must maintain neutrality while fulfilling disclosure obligations to both clients.
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Sarah is a real estate agent representing both the buyer and seller in the same transaction. What type of representation is this called, and what is her primary obligation?
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Sarah submits an offer on a property at 2:00 PM with a 6:00 PM irrevocable time. At 5:30 PM, she wants to withdraw her offer. Can she do this?