Final answer:
Once consent to a dual agency arrangement has been established between a licensee, a seller, and a buyer, the parties can revoke their consent under certain circumstances.
Step-by-step explanation:
Once consent to a dual agency arrangement has been established between a licensee, a seller, and a buyer, the parties can revoke their consent under certain circumstances. The most common circumstance is when one of the parties feels that their interests are no longer being adequately represented or that a conflict of interest has arisen.
For example, if the licensee is representing both the buyer and the seller in the same transaction and the buyer discovers that the licensee has withheld important information about the property, the buyer may choose to revoke their consent to the dual agency arrangement.
It is important to note that the specific rules and regulations regarding the revocation of consent to a dual agency arrangement may vary by jurisdiction. It is advisable for the parties involved to consult with a legal professional or real estate authority for guidance on the specific requirements in their area.