Agency
In Alaska, 'puffery' by a listing agent refers to:
AOverstating the square footage of a property
BVague, non-specific positive statements about a property that buyers should not rely on✓ Correct
CFilling out contract forms with inflated appraisal values
DAdvertising a property at a price above its appraised value
Explanation
Puffery consists of vague, subjective, non-specific promotional statements — such as 'this is the nicest neighborhood in Anchorage' — that are not actionable misrepresentation because reasonable buyers should not rely on them as statements of fact. Unlike puffery, specific false statements of fact can be fraudulent misrepresentation.
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Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Math Concepts
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