Under Wisconsin law, what term does the state use to describe the agency relationship in which a single broker represents BOTH the buyer and the seller in the same transaction?
Correct Answer
A) Multiple representation
Wisconsin uses the term 'multiple representation' rather than 'dual agency' to describe the situation where one broker represents both the buyer and the seller in the same transaction. This specific terminology is established under Wisconsin Administrative Code REEB 24 and is a key distinction on the Wisconsin state exam.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
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