Vermont law recognizes several types of agency relationships between licensees and their clients. Which of the following is NOT a recognized agency relationship type under Vermont Real Estate Commission Rule 4.1?
Correct Answer
C) Transactional brokerage
Vermont Real Estate Commission Rule 4.1 and 26 V.S.A. § 2296 recognize buyer agency, seller agency, disclosed dual agency, and designated agency as the defined agency relationship types for Vermont licensees. Transactional brokerage — a non-agency or facilitation model used in some other states — is not a recognized or defined relationship type under Vermont's current statutory and regulatory framework.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
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