Under Maryland law, which of the following duties does a Maryland dual agent owe to BOTH parties in the transaction? All of the following are correct EXCEPT:
Correct Answer
C) Advocating for the best possible price and terms for each respective party
Advocating for the best possible price and terms for each respective party is NOT a duty of a Maryland dual agent. Advocacy for one party's best interests is the hallmark of exclusive single-party representation. A dual agent must act neutrally and cannot advocate for either party's negotiating position. The dual agent's role is to facilitate the transaction, not to champion either side's interests. This limitation is a core feature of Maryland dual agency under Md. Code Ann., Bus. Occ. & Prof. § 17-530.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
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