Virginia Real Estate Exam Practice Question
How do you decide which party you represent in a transaction?
Correct Answer: C
Rationale: Choosing which party to represent in a transaction hinges on the express written agreement established between you and that party. This agreement clarifies roles, responsibilities, and expectations, ensuring transparency and legal compliance.
Option A incorrectly suggests that compensation alone determines representation, which overlooks the necessity of a formal agreement. Option B misinterprets the nature of duties; while priorities may exist, they do not dictate representation. Option D relies on implied agreements, which can lead to misunderstandings and legal complications, making express agreements essential for clarity and accountability.
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