Agency
Which of the following best describes a designated agency arrangement?
AThe broker personally represents both buyer and seller
BDifferent agents within the same brokerage are designated to each represent the buyer and seller separately✓ Correct
CAn agent represents multiple buyers competing for the same property
DA broker from a different state is designated to handle the transaction
Explanation
In designated agency, the broker assigns different agents within the same firm to represent the buyer and seller separately. This arrangement allows each party to receive undivided representation while being clients of the same brokerage.
Related Alaska Agency Questions
- 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:
- A seller's listing agreement is a contract between the:
- In Alaska, designated agency means:
- The fiduciary duty of 'obedience' requires the agent to follow all client instructions EXCEPT:
- In Alaska, a seller's agent owes which of the following duties to an unrepresented buyer?
- Ratification in agency law means:
- In Alaska, if a real estate firm represents both the buyer and seller in the same transaction without designating separate agents, this is considered:
- A listing agent learns that the seller is willing to accept $20,000 less than the listed price. The agent should:
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