Under Maryland law, which of the following is NOT a recognized type of brokerage relationship that a licensee may have with a client?
Correct Answer
C) Guaranteed agency, where the licensee guarantees a specific outcome for the client
'Guaranteed agency' is not a recognized brokerage relationship under Maryland law or any other jurisdiction. Maryland law recognizes seller's agency, buyer's agency, dual agency, and intra-company agency as the defined types of brokerage relationships. No licensee may guarantee a specific outcome as part of an agency relationship, as this would be misleading and potentially fraudulent.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
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