Question

in a real estate transaction, a broker may represent______

• the buyer, the seller, or both the buyer and the seller with informed, written consent and limited representation
• the buyer only
• the seller only
• either the buyer or the seller but not both

Explanation:

Analyze the question stem

The question asks who a broker may represent in a real estate transaction.

Evaluate the legal standards of representation

A real estate broker can legally represent a buyer, a seller, or both parties in a single transaction (known as dual agency or limited consensual representation), provided that both parties give their informed, written consent.

Compare the options

• Option 1: "The buyer, the seller, or both the buyer and the seller with informed, written consent and limited representation" accurately reflects real estate license law regarding single and dual agency.
• Option 2 and Option 3 are too restrictive because representation is not limited to only one side.
• Option 4 is incorrect because dual representation is legally permissible with proper disclosure and consent.

Answer:

• (A) The buyer, the seller, or both the buyer and the seller with informed, written consent and limited representation (Correct answer)
• (B) The buyer only
• (C) The seller only
• (D) Either the buyer or the seller but not both