Agency
A licensee working with a buyer who has not signed a buyer representation agreement is considered to be:
AA buyer's agent
BA transaction broker✓ Correct
CA subagent of the seller
DA limited agent
Explanation
In Alabama, a licensee who works with a buyer without a signed representation agreement is a transaction broker (also called a non-agent or facilitator). They assist both parties but do not represent either as a fiduciary.
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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