Delaware recognizes which agency relationships?
Question & Answer
Review the question and all answer choices
Only seller agency
Delaware recognizes more than just seller agency. Limiting to only seller agency would ignore buyer representation options, which are essential in today's market where buyers often seek their own representation.
Seller's agent, buyer's agent, dual agent, and transaction broker
Only buyer agency
Delaware recognizes more than just buyer agency. While buyer agency is important, the state also recognizes seller agency, dual agency, and transaction brokerage to serve various transaction needs.
Only transaction brokerage
Transaction brokerage is only one of the agency relationships Delaware recognizes. Limiting to only transaction brokerage would exclude traditional agency relationships where brokers represent clients with fiduciary duties.
Why is this correct?
Delaware law specifically recognizes four types of agency relationships: seller's agent, buyer's agent, dual agent, and transaction broker. This comprehensive approach allows flexibility in representing clients' needs while maintaining compliance with state regulations.
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