Under Alabama agency law, when does an agency relationship with a buyer typically begin?
Why When a written buyer representation agreement is signed Is Correct
Answer C: When a written buyer representation agreement is signed
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
- In Alabama, a written brokerage agreement that creates an agency relationship between a broker and seller is called a:Agency
- An agency relationship created without explicit agreement but implied by the actions of the parties is called:Agency
- An Alabama property owner who gives a neighbor permission to park in their driveway daily, without any formal agreement, has created a:Property Ownership
- An agent accidentally creates an agency through their conduct without a written agreement. This is called:Agency
- In Alabama, if a tenant fails to pay rent, the landlord may begin eviction proceedings after giving the tenant a written notice to pay or vacate within:Property Management
- When must an Alabama licensee provide agency disclosure to a prospective buyer?Alabama License Law
- 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
Key Terms to Know
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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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