Rules of agency relationship Flashcards
1
Q
When the same firm represents the buyer and seller
A
This is called dual agency
2
Q
Consent for dual agency must be
A
In writing when relationship starts
3
Q
What is designated agency
A
Dual agency that requires disclosure and consent from both parties
4
Q
W-2
A
You are an employee
5
Q
1099
A
You are self-employed