Under Maryland law, which term describes the agency relationship in which two different licensees within the same brokerage firm represent the buyer and the seller in the same transaction?
Correct Answer
B) Intra-company agency
Maryland law specifically defines 'intra-company agency' as the situation where two different licensees affiliated with the same brokerage represent the buyer and seller in the same transaction. This is a Maryland-specific statutory term found in Md. Code Ann., Bus. Occ. & Prof. § 17-530, and it is distinct from dual agency.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
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.
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