In Maryland, dual agency occurs when a single licensee represents both the buyer and the seller in the same transaction. What is the term used when two different licensees within the same brokerage each represent a different party in the same transaction?
Correct Answer
B) Intra-company agency
Maryland law specifically defines and regulates 'intra-company agency' as the situation where two different licensees affiliated with the same brokerage each represent a different party (buyer and seller) in the same transaction. This is a distinct statutory category under the Maryland Real Estate Brokers Act and is separately regulated from dual agency.
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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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