New Hampshire licensee James represents buyer Carol under a written buyer representation agreement. Carol asks James to show her a property listed by James's own brokerage, where James's colleague Amy holds the listing. James wants to continue representing Carol and also assist the seller through his brokerage. Which agency relationship must be disclosed and consented to before James can proceed?
Correct Answer
B) Disclosed dual agency, because both the buyer and the seller must consent in writing to James's brokerage representing both parties
Under New Hampshire law and RSA 331-A:25-b, when a brokerage represents both the buyer and the seller in the same transaction (an in-house transaction), a disclosed dual agency relationship exists. Both the buyer (Carol) and the seller must provide written informed consent to this arrangement before it can proceed. The Agency Disclosure Form must be updated to reflect the dual agency status.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
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