Broker Quinn represents Buyer Stone under a written buyer representation agreement. Quinn shows Stone a For Sale By Owner property where the seller has no listing agent. What agency relationship exists?
Correct Answer
B) Quinn represents Stone as a buyer's agent with no intermediary situation
Quinn has a written buyer representation agreement with Stone and therefore represents Stone as a buyer's agent. Since the FSBO seller has no listing agent, there is no dual representation and no intermediary situation.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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In Texas, the term used to describe a broker who represents both the buyer and seller in the same transaction with written consent is: