Under California Civil Code §2079.13, which party does the 'selling agent' represent in a residential real estate transaction?
Correct Answer
C) The party whose interests the agent has agreed to represent, which may be the buyer, the seller, or both as a dual agent
Under California Civil Code §2079.13(b), the 'selling agent' is defined as the agent who finds or introduces the buyer to the property — a role often filled by the buyer's agent in a cooperative sale. However, the statute does not automatically assign the selling agent to represent the buyer. The selling agent may represent the buyer, the seller, or both parties as a dual agent, depending on the agency relationships established and disclosed in the transaction. The required Agency Disclosure form (Civil Code §2079.14) is the mechanism by which these relationships are confirmed and communicated to all parties.
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Related Topics & Key Terms
Key Terms:
Related Concepts
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
More Laws Of Agency Fiduciary Duties Questions
A property sold for $450,000. The commission rate was 6%. If the listing broker received 60% of the total commission, how much did the listing broker receive?
An individual who is not employed by the client, but has been delegated agency duties by an agent of the client, is referred to as a(n):
What are the three steps of the agency disclosure in proper chronological order?
An agent needs to disclose a conflict of interest to the affected parties when a principal or service provider in the transaction is the agent’s:
A broker who simultaneously represents the best interests of both opposing parties in a transaction is known as a(n):
- → When showing a listed residential property of one to four dwelling units to potential buyers, the listing broker is required to disclose:
- → Broker fees deposited with the broker before they are earned are called:
- → A real estate broker is subject to disciplinary action from the Department of Real Estate (DRE) if they:
- → The seller states they will accept the buyer’s offer if the broker lowers their 6% commission by 25%. If the broker accepts, they will receive:
- → When a broker wants to store documents electronically, the storage method may not allow the final documents to be altered. What method of electronic document storage is required by the Department of Real Estate (DRE)?
- → A broker receives a full price offer on a house they are listing. Before they present the offer to the seller, another broker brings in an all cash offer for $5,000 less. The listing broker is to:
- → A seller’s broker needs to disclose:
- → Broker Chuck listed a duplex for sale from a corporate owner. After entering into the listing, the officers of the corporation die in a plane crash. What happens to the listing?
- → If a 16-year-old emancipated minor wishes to sell real property, their broker may:
- → A broker who fails to promptly disclose their dual agency status is subject to:
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Previous Question
A California listing agent discovers through their visual inspection that a property has a significant foundation defect. The seller instructs the agent to keep this information confidential and not disclose it to buyers. Which of the following best describes the agent's legal obligation?
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A listing agent, without the seller's consent, tells the buyer during negotiations that the seller will accept $50,000 below the listed price. Which fiduciary duty has the agent breached?