Virginia law identifies several types of agency relationships that a real estate licensee may enter into with clients. Which of the following is NOT a recognized agency relationship type under Virginia's real estate license law?
Correct Answer
C) Transactional brokerage without agency
Virginia's real estate license law (Va. Code § 54.1-2130 et seq.) recognizes seller's agency, buyer's agency, dual agency, and designated agency as the primary relationship types. Virginia does NOT recognize a formal 'transactional brokerage' or 'non-agency' status as a distinct licensed relationship category. Unlike some other states, Virginia requires licensees to operate within defined agency relationships and does not provide a statutory framework for a non-agency facilitator role.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
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