Under California Civil Code §2079.13, all of the following are recognized agency relationships in a residential real estate transaction EXCEPT:
Correct Answer
B) Transaction broker (facilitates the transaction without representing either party)
California does NOT recognize the 'transaction broker' or 'facilitator' concept that exists in some other states. Under California Civil Code §2079.13, the only recognized agency relationships in residential transactions are: (1) seller's agent, (2) buyer's agent, and (3) dual agent. Every agent must represent at least one party; acting as a neutral facilitator is not a legal option in California.
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Under California Civil Code §2079.17, when must a listing agent provide the agency disclosure form (AD form) to the seller?
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In California, Broker Smith has the listing on a property. Salesperson Jones, who works for Broker Smith, brings a buyer. Under California law, what agency situation has been created?