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Ga Agency BrretaAgency_disclosures_and_written_engagementsMEDIUM

Agent Rebecca has been working with buyer client James under a Non-Exclusive Buyer Brokerage Agreement for three months. James now wants to purchase a property listed by Rebecca's brokerage colleague Susan. What disclosure and agreement changes are required?

Correct Answer

B) Designated Agency Disclosure and possible agreement modification

When the same brokerage represents both parties, designated agency disclosure is required and the buyer agreement may need modification to address the dual representation situation. A is incorrect because specific disclosures are required. C is incorrect because the agreement can be modified rather than terminated. D is incorrect because designated agency allows both representations to continue.

Answer Options
A
No changes needed since they're in the same brokerage
B
Designated Agency Disclosure and possible agreement modification
C
James must terminate his agreement with Rebecca
D
Susan must withdraw from representing the seller

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Related Topics & Key Terms

Key Terms:

designated_agencysame_brokeragedual_representationagreement_modification

Related Concepts

The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.

The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.

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.

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