Agency
In Alaska, the duty of an agent to 'exercise skill' means the agent must:
ABe licensed at the broker level
BPossess and apply the competence expected of a professional real estate licensee✓ Correct
CComplete advanced designations such as GRI or CRS
DWork full-time in real estate
Explanation
The duty to exercise skill and care requires licensees to possess and apply the level of competence expected of a professional real estate agent. This includes knowledge of market conditions, contract terms, disclosure requirements, and negotiation — the fundamentals of the profession.
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Key Terms to Know
Listing Agreement
A 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.
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.
State-Specific Concepts
Disclosure Requirements
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