What is a key characteristic of a Dual Agency?

Study for the Arizona Salesperson Test with flashcards and multiple-choice questions. Each question is paired with helpful hints and detailed explanations. Get ready to ace your exam!

A key characteristic of Dual Agency is that two agents from the same brokerage can represent both the buyer and the seller in a transaction. This situation occurs when a real estate firm employs an agent to represent the seller and another agent in the same firm to represent the buyer, allowing for a more streamlined process within the same office.

This arrangement requires transparency and informed consent from both parties, as they must be aware that the agent is working for both sides, which in turn can present potential conflicts of interest. It's essential in Dual Agency that the agents manage their duties impartially for both parties.

The other options do not accurately reflect the concept of Dual Agency. Having only one agent represent one party or only the seller being represented does not fit the definition, and suggesting that all parties must be uninformed contradicts the necessary disclosure and consent requirements that are fundamental to the practice of Dual Agency.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy