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AgencyAgency DisclosureMEDIUM

A West Virginia salesperson is asked about a WV licensee fails to disclose on the Commission agency relationship form whether the licensee represents the seller, buyer, or both. What is the best answer?

Correct Answer

A) That failure is a statutory ground for discipline

Failure to disclose representation status on the Commission agency relationship form is a disciplinary ground. Source basis: W. Va. Code §30-40-19 through §30-40-21, West Virginia Legislature current code, checked 2026-04-30

Answer Options
A
That failure is a statutory ground for discipline
B
The agency form is optional in all cases
C
The licensee may disclose agency only after closing
D
Only lenders, not licensees, handle agency disclosure

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Related Topics & Key Terms

Related Topics:

wv.IIagency-disclosure

Key Terms:

west-virginiawv.IIagency-disclosureagency-notice

Related Concepts

An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.

The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.

An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.

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