All of the following are potential consequences of undisclosed dual agency EXCEPT
Correct Answer
D) the agent automatically gains title to the property
Loss of compensation, voidable transactions, and license discipline are all potential consequences. An agent does not gain title to property through undisclosed dual agency.
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Previous Question
An agent who is also a licensed contractor buys a fixer-upper listed with the agent's own brokerage, intending to renovate and resell at a profit. The agent fully discloses the personal interest to the seller before making the offer. What has the agent done to address the conflict?
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A buyer approaches a listing agent at an open house and asks the agent to write the offer and represent the buyer as well as the seller. Before agreeing, what must the agent obtain from BOTH parties?