An Alaska broker enters into a property management agreement with a rental property owner. The agreement creates a(n):
Why Agency relationship in which the broker manages the property as the owner's agent Is Correct
Answer B: Agency relationship in which the broker manages the property as the owner's agent
Exam Tip: Contracts
Contract questions frequently test the essential elements required for a valid contract. Remember: competent parties, mutual consent, lawful object, and sufficient consideration. Watch for void vs. voidable distinctions.
Key Contracts Terms in This Question
People Also Study
Related Alaska Questions
- In Alaska, when a listing agent is also the managing agent for the property, their agency relationships create potential conflicts because they owe fiduciary duties to the seller/owner but may also interact with tenants. The agent should:Agency
- The duty of 'loyalty' in an Alaska agency relationship means the agent must:Agency
- An Alaska real estate agent who acts beyond the scope of their authorized duties without the principal's consent may create liability for:Agency
- Under Alaska agency law, a licensee acting as a 'facilitator' (non-agent) owes which duties?Agency
- An Alaska property management company's policy of screening only male applicants for a certain rental because of the building owner's preference is:Fair Housing
- Which Alaska state agency oversees the disposal and management of state-owned lands?Land Use & Zoning
- An Alaska property management agreement is an example of a(n):Contracts
- Alaska contains a large amount of federal public land managed by which agency for multiple-use purposes including timber, grazing, and recreation?Property Ownership
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.
Purchase AgreementA legally binding contract between a buyer and seller that outlines the terms and conditions of a real estate sale.
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.
Study This Topic
Practice More Alaska Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →