West Virginia Real Estate Salesperson Exam — All Questions
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2 questions
West Virginia Agency Relationships
Under West Virginia rules, a licensee should disclose the agency relationship to a consumer:
- a.Only after a purchase contract is signed
- b.At the closing
- c.Within 30 days after an accepted offer
- d.Before confidential information is shared, at the start of the relationship✓
West Virginia requires licensees to disclose the agency relationship before confidential information is shared, generally at the start of the working relationship. The disclosure explains whether the licensee represents the seller, the buyer, or acts as a dual agent.
West Virginia Agency Relationships
In West Virginia, dual agency, in which one licensee or firm represents both the buyer and the seller, is:
- a.Prohibited in all circumstances
- b.Permitted only with the informed written consent of both parties✓
- c.Created automatically whenever a firm has both sides
- d.Allowed with no disclosure to the parties
In West Virginia, dual agency is permitted only with the informed written consent of both the buyer and the seller. The dual agent must treat both parties honestly and may not disclose one party's confidential information to the other.