A buyer's agent in Alaska who shows the buyer a property listed by the same brokerage should:
Why Disclose the potential in-house dual agency situation and obtain consent before proceeding Is Correct
Answer B: Disclose the potential in-house dual agency situation and obtain consent before proceeding
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
A 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.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
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- An Alaska salesperson shows a buyer a property that the salesperson's brokerage has listed. Without a designated agency arrangement, this creates:Agency
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- In Alaska, which of the following requires a licensee to provide a written agency disclosure to a consumer?Alaska License Law
- An Alaska licensee who assists a buyer in a real estate transaction where the buyer also has a family member who is a licensee at the same brokerage must:Alaska License Law
- Under Alaska license law, dual agency means:Alaska License Law
- In Alaska, for dual agency to be legal, what is required?Alaska License Law
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.
Buyer's AgentA 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.
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