Agent Mark represents buyer Tanya in her search for a home in Baltimore County. At an open house hosted by Mark's colleague at the same brokerage, Tanya falls in love with the property and wants to make an offer. The listing agent, also affiliated with Mark's brokerage, will continue to represent the seller. The broker has obtained written consent from both parties using the MREC-mandated form. Which statement best describes the resulting agency relationship?
Correct Answer
A) This is an intra-company agency relationship, with Mark representing Tanya and the listing agent representing the seller
This is a textbook intra-company agency scenario under Maryland law. Two different licensees affiliated with the same brokerage each represent a different principal. With the broker's written consent obtained on the MREC-mandated form from both parties, the transaction may proceed lawfully as an intra-company agency arrangement. Mark continues to represent Tanya, and the listing agent continues to represent the seller.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
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