Under Maryland law, which of the following statements correctly describes the difference between dual agency and intra-company agency?
Correct Answer
B) Dual agency involves one licensee representing both parties; intra-company agency involves two licensees in the same brokerage each representing a different party
Maryland law draws a clear statutory distinction between dual agency and intra-company agency. Dual agency occurs when a single licensee represents both the buyer and the seller in the same transaction. Intra-company agency occurs when two different licensees affiliated with the same brokerage each represent a different party. Both require written informed consent using the MREC-mandated form, but they are legally distinct relationships with different implications for the duties owed.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
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.
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