An agent who represents neither the buyer nor the seller but facilitates the transaction is known as a:
Why Transactional broker Is Correct
Answer B: Transactional broker
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.
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Related Alaska Questions
- A real estate licensee in Alaska acts as a 'transaction coordinator' without representing either buyer or seller. What fiduciary duties does the licensee owe?Agency
- In Alaska, if a real estate firm represents both the buyer and seller in the same transaction without designating separate agents, this is considered:Agency
- Which type of agency is created when an agent acts on behalf of a principal without explicit authorization, but the principal later approves the action?Agency
- A buyer's agent in Alaska has a fiduciary duty to:Agency
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.
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.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
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