Under Iowa law, all of the following statements about dual agency are accurate EXCEPT:
Correct Answer
C) Dual agency is prohibited in Iowa and cannot be used under any circumstances
The statement that dual agency is prohibited in Iowa is FALSE — and therefore the correct answer to this EXCEPT question. Iowa law expressly permits dual agency, provided that both the buyer and seller give written informed consent before the dual agency arrangement begins. Iowa Code Chapter 543B and Iowa Administrative Code 193E establish the conditions under which dual agency is lawful, including disclosure requirements and consent procedures. Dual agency is legal in Iowa; it is simply regulated and requires consent.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
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