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Author Question: What is an exclusive agency? What is a dual agency? What will be an ideal ... (Read 101 times)

future617RT

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on: Aug 3, 2018
What is an exclusive agency? What is a dual agency?
 
  What will be an ideal response?

Question 2

What duties does an agent owe a principal in an agency relationship?
 
  What will be an ideal response?


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kingdude89

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Reply #1 on: Aug 3, 2018
Answer to Question 1

An exclusive agency is the most common form of agency in a real estate transaction. The seller gives the broker/agent the exclusive right to market the property and receive a commission upon the sale of the property. A dual agency occurs when the broker/agent represents both the seller and the buyer in a real estate transaction.

Answer to Question 2

The agent owes the principal the duties of loyalty, obedience, disclosure, and confidentiality.


future617RT

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Reply 2 on: Aug 3, 2018
YES! Correct, THANKS for helping me on my review

lindahyatt42

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Reply 3 on: Yesterday
Great answer, keep it coming :)

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