Under Maryland law, which of the following most accurately describes the key distinction between dual agency and intra-company agency?
Correct Answer
D) Dual agency involves one licensee representing both parties, while intra-company agency involves two different licensees in the same firm representing opposite parties
Maryland law draws a precise distinction: dual agency occurs when a single licensee represents both the buyer and the seller in the same transaction, while intra-company agency occurs when two different licensees affiliated with the same brokerage each represent one of the parties. Both are authorized under Md. Code Ann., Bus. Occ. & Prof. § 17-530, and both require written informed consent from both parties.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
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