Broker James operates Bay Bridge Realty. Agent Sarah, affiliated with Bay Bridge, represents buyer Kevin. Agent David, also affiliated with Bay Bridge, represents seller Patricia. Kevin wants to purchase Patricia's home. James wants to ensure the transaction proceeds lawfully. Under Maryland law, this situation is best described as which type of agency relationship?
Correct Answer
B) Intra-company agency, because two different licensees in the same brokerage represent opposite parties
Maryland law specifically defines this scenario as intra-company agency: two different licensees affiliated with the same brokerage each represent a different principal in the same transaction. Maryland's statutory framework for intra-company agency is more detailed than most states and distinguishes it clearly from dual agency, where a single licensee represents both parties.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
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