Agent Lisa represents seller David in the sale of his Boise home. A buyer, Kevin, approaches Lisa directly and wants to make an offer on David's property without his own agent. Lisa's brokerage would like to represent both David and Kevin in this transaction. Which action is required under Idaho law before Lisa's brokerage can proceed as a limited dual agent?
Correct Answer
A) Lisa must obtain written informed consent from both David and Kevin
Idaho Code § 54-2087 requires that before a brokerage may act as a limited dual agent, it must obtain written informed consent from both the buyer and the seller. Verbal consent alone is insufficient under Idaho law. Both parties must understand and agree in writing to the limited dual agency arrangement.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
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