Sarah is a licensed salesperson at Crestview Realty in Virginia. She has been working with Marcus, a buyer client, for several weeks. Marcus falls in love with a home listed by Sarah's own brokerage, Crestview Realty. Sarah's supervising broker asks her to also represent the seller in this transaction. What must happen before Sarah can legally proceed as a dual agent?
Correct Answer
C) Sarah must obtain written informed consent from both Marcus and the seller before proceeding
Under Va. Code § 54.1-2139, a licensee may act as a dual agent only with the written informed consent of all parties to the transaction. Sarah must disclose the dual agency relationship and obtain written consent from both Marcus (the buyer) and the seller before she can legally represent both sides. This consent must be given knowingly and voluntarily.
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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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