Under Virginia's disclosed dual agency framework, a licensee acting as a dual agent may continue to perform all of the following duties EXCEPT which one?
Correct Answer
C) Advising the seller on the buyer's maximum willingness to pay
Under Virginia's disclosed dual agency framework (Va. Code § 54.1-2133), a dual agent is specifically prohibited from disclosing one party's confidential negotiating information to the other party. Advising the seller on the buyer's maximum willingness to pay would directly breach the duty of confidentiality owed to the buyer. This is the key limitation that defines disclosed dual agency in Virginia — the agent cannot advocate for one party against the other or share confidential negotiating information.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
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