Agency
Which of the following best describes a transaction broker (non-agent) in Alabama?
AAn agent who represents only the seller
BAn agent who represents only the buyer
CA facilitator who assists both parties without representing either✓ Correct
DAn agent who handles commercial transactions only
Explanation
A transaction broker (non-agent) assists both parties in completing the transaction without representing either as a fiduciary. They owe duties of honesty and fair dealing but not the full fiduciary duties of loyalty and obedience.
Related Alabama Agency Questions
- When must an Alabama licensee provide a consumer with the 'Understanding Agency' disclosure?
- A dual agent in Alabama represents:
- An Alabama broker who personally negotiates and closes on a property they own has a conflict of interest that requires:
- Which fiduciary duty requires an Alabama agent to put the client's interests above their own?
- An agency relationship may be terminated by all of the following EXCEPT:
- The duty of 'accounting' in a fiduciary relationship requires an agent to:
- In Alabama, which type of agency relationship is created when a broker represents both buyer and seller with written consent?
- A salesperson signs a listing agreement on behalf of their qualifying broker. Who is the actual listing agent (the seller's agent)?
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