In Alaska, a real estate agent acting as a 'facilitator' (non-agent) primarily differs from an agent because the facilitator:
Why Does not represent either party and owes neither the full fiduciary duties of agency Is Correct
Answer B: Does not represent either party and owes neither the full fiduciary duties of agency
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
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- Under Alaska agency law, a licensee acting as a 'facilitator' (non-agent) owes which duties?Agency
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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.
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.
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.
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