Under Oklahoma law, which of the following is NOT a recognized type of agency relationship that a licensed Oklahoma broker may enter into with a client in a real estate transaction?
Correct Answer
C) Undisclosed dual agency
Undisclosed dual agency is NOT a recognized or permissible agency relationship under Oklahoma law. While dual agency itself is permitted in Oklahoma, it is only lawful when both parties have received full written disclosure and have provided informed written consent. An undisclosed dual agency — where the broker secretly represents both parties without disclosure — is a violation of Oklahoma's agency disclosure statutes and constitutes grounds for disciplinary action by OREC.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
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