An Alaska seller's agent receives an unsolicited text message from a buyer that contains information about the buyer's maximum purchase price. The agent should:
Why Disclose to the buyer that this information has been received and explain their duty to the seller Is Correct
Answer B: Disclose to the buyer that this information has been received and explain their duty to the seller
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
People Also Study
Related Alaska Questions
- Under Alaska law, an agent who represents a buyer in a new construction purchase must disclose their agency status to:Agency
- An Alaska broker receives a 6% commission on a sale. The broker pays the listing salesperson 50% and the selling salesperson 40% of their respective halves. The sale price is $480,000. How much does the selling salesperson earn?Real Estate Math
- 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
- An Alaska seller's agent receives an offer well below the listing price. The agent should:Agency
- A borrower in Alaska has a debt-to-income (DTI) ratio limit of 43%. Their gross monthly income is $6,500. What is the maximum total monthly debt payment allowed?Real Estate Math
- A listing agent in Alaska has a duty to disclose to the seller all EXCEPT:Agency
- An Alaska agent lists a property for 90 days. The property sells on day 72. The listing broker receives $24,000. If the total commission was 5%, what was the sale price?Real Estate Math
- A buyer defaults on a purchase contract in Alaska. If the contract contains a liquidated damages clause limited to the earnest money, the seller's remedy is:Contracts
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.
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.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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 →