A Michigan buyer calls the listing broker directly and says she wants to make an offer on the broker's listed property. The broker agrees to represent her as well. Before proceeding, what must the broker obtain from both the buyer and the seller under Michigan law?
Correct Answer
D) Informed written consent from both the buyer and the seller
MCL 339.2517 expressly requires that a broker who intends to act as a dual agent must obtain the informed written consent of both the buyer and the seller before proceeding. Both parties must consent in writing after being fully informed of the dual-agency relationship.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
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.
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