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When the buyer is in a single-agency relationship with the licensee.
What is single-agency?
Single agency refers to the situation in which an agent only represents a client (either the buyer or the seller) and is in charge of looking out for that client's best interests. The listing agent and seller will sign a listing agreement, and the buyer's agent and the buyer will sign a buyer's broker agreement.
What is meant by transaction broker?
A transaction broker is a real estate brokerage company that offers buyer, seller, or both buyer and seller client assistance during a real estate transaction. A transaction broker could be a lone representative of one party in the transaction who provides customer care to the other side.
What are the three types of agency relationships?
Agency partnerships that are most typical are:
- Purchaser's Agency
- Selling Agent;
- two-way agency
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