Under Wyoming law, which of the following is NOT a recognized agency relationship type that a Wyoming real estate licensee may establish with a consumer?
Correct Answer
C) Transactional brokerage, where the licensee owes limited duties to both parties without representing either as a client
Wyoming law, under the Wyoming Agency Disclosure Act (W.S. 33-28-301 et seq.), recognizes buyer agency, seller agency, dual agency, and in-house (designated) agency as defined relationship types. 'Transactional brokerage' — a non-agency or limited-service model used in some states — is NOT a recognized agency category under Wyoming's statutory framework. Wyoming licensees must operate within one of the defined agency models and provide appropriate written disclosure.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
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