Agency
A buyer's agent in Alaska has a fiduciary duty to:
ADisclose the buyer's financial limitations to the seller
BObey all lawful instructions from the buyer-client✓ Correct
CPresent all offers to the listing broker first
DAct in the seller's best interest during negotiations
Explanation
A buyer's agent owes fiduciary duties to the buyer, including obedience to lawful instructions. The agent must NOT disclose the buyer's financial limitations to the seller, as this would breach the duty of confidentiality owed to the buyer-client.
Related Alaska Agency Questions
- A seller's agent in Alaska accidentally reveals the seller's bottom-line price to the buyer. This is a violation of the agent's duty of:
- Under Alaska law, dual agency requires:
- Subagency in Alaska traditionally meant that a cooperating broker:
- Which of the following best describes a designated agency arrangement?
- An Alaska agent who is representing a buyer discovers the property has a code violation the seller is unaware of. The agent should:
- An agent who represents neither the buyer nor the seller but facilitates the transaction is known as a:
- Under Alaska agency law, ratification of an unauthorized act by an agent occurs when:
- An agent's fiduciary duty of 'confidentiality' survives:
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