Agency
In Alaska, a designated agency arrangement means:
ATwo agents from the same brokerage represent the buyer and seller separately✓ Correct
BOne agent represents both buyer and seller
CThe broker personally supervises every transaction
DOnly licensed attorneys may represent parties at closing
Explanation
In designated agency, the broker designates one licensee in the brokerage to represent the buyer and another to represent the seller, allowing each party to receive exclusive representation despite both agents working for the same brokerage.
Related Alaska Agency Questions
- Which of the following BEST describes the duty of 'obedience' in an agency relationship?
- A buyer's agent in Alaska negotiates a lower price for the buyer. The agent's commission is based on the sale price. If a lower price means less commission, this creates a potential:
- Which of the following best describes a designated agency arrangement?
- If a seller's agent inadvertently creates an implied agency relationship with a buyer by extensively advising them, the most significant risk is:
- A buyer's agent in Alaska has a fiduciary duty to:
- Ostensible (apparent) agency in real estate most commonly arises when:
- When does a seller's listing agency relationship terminate?
- The legal concept that holds an employing broker responsible for the acts of affiliated licensees is known as:
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