Nevada salesperson Greg is representing seller Donna in the sale of her home. During the listing period, a buyer named Victor contacts Greg directly without his own agent. Victor wants to submit an offer and asks Greg to help him prepare it. Greg explains the situation to Donna and obtains her written consent to proceed. What is the most accurate description of Greg's agency status with respect to Victor under Nevada law?
Correct Answer
A) Greg acts as a dual agent representing both Donna and Victor with written consent from Donna
Under NRS 645.252(3), when a licensee assists both the seller and an unrepresented buyer in the same transaction, a dual agency situation arises. Greg must obtain written informed consent from both Donna (the seller) and Victor (the buyer) before proceeding. The question states Donna's consent was obtained; Greg must also obtain Victor's written consent. With proper dual agency consent from both parties, Greg may assist both — but with the reduced duties that dual agency entails, including not disclosing either party's confidential negotiating information.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
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