Patricia is a licensed NH associate broker who has been representing seller Robert in the sale of his home in Concord. A prospective buyer, unrepresented by any agent, approaches Patricia directly and expresses strong interest in making an offer. Robert consents in writing to Patricia representing both parties. Patricia provides the required disclosures and obtains written consent from the buyer as well. Which agency relationship has Patricia now established?
Correct Answer
C) Disclosed dual agent representing both the seller and the buyer
Under RSA 331-A:25-b, when a licensee represents both the buyer and the seller in the same transaction with written informed consent from both parties and proper disclosure, the relationship is classified as disclosed dual agency. Patricia has met all statutory requirements: disclosure, written consent from both parties, and proper documentation.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
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