Laws & AgencyQuestion 26 of 120
When a single broker represents both the buyer and the seller in the same transaction, the arrangement is called:
a.Single agency
b.Subagency
c.Designated agency
d.Dual agency
Explanation
Dual agency occurs when one broker represents both parties in the same transaction. In California it is legal only with the informed, written consent of both principals, and the agent owes limited fiduciary duties to each. The dual agent may not disclose one party's confidential price limits to the other.
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