Under Alabama agency law, a 'limited consensual dual agent' may represent:
Why Both the buyer and seller in the same transaction with written consent Is Correct
Answer C: Both the buyer and seller in the same transaction with written consent
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
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Related Alabama Questions
- In Alabama, which type of agency relationship is created when a broker represents both buyer and seller with written consent?Agency
- An Alabama broker who represents both the buyer and seller in the same transaction with written consent of both parties is acting as a:Alabama License Law
- In Alabama, a month-to-month tenancy can typically be terminated by either party with how much notice?Property Management
- A dual agent in Alabama represents:Agency
- Which of the following BEST defines 'dual agency' in Alabama?Agency
- In Alabama, a written brokerage agreement that creates an agency relationship between a broker and seller is called a:Agency
- When must an Alabama broker provide a written agency disclosure to a prospective client?Alabama License Law
- If an Alabama broker has a dispute about the disbursement of earnest money and cannot resolve it with the parties, the broker should:Trust Funds
Key Terms to Know
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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