In Alaska, when a listing agent is also the managing agent for the property, their agency relationships create potential conflicts because they owe fiduciary duties to the seller/owner but may also interact with tenants. The agent should:
Why Clearly define the agency relationships and disclose any potential conflicts to all parties Is Correct
Answer B: Clearly define the agency relationships and disclose any potential conflicts to all parties
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
People Also Study
Related Alaska Questions
- Under Alaska law, an agent who represents a buyer in a new construction purchase must disclose their agency status to:Agency
- Under Alaska agency law, when must a licensee provide the agency disclosure to a potential buyer?Agency
- Under Alaska agency law, which type of agency relationship requires written disclosure and consent from both parties?Agency
- An Alaska real estate agent who acts beyond the scope of their authorized duties without the principal's consent may create liability for:Agency
- A property owner in Alaska builds a fence 2 feet over their neighbor's property line. This encroachment may eventually create a property right through:Property Ownership
- A property owner in Alaska petitions to have their land rezoned from residential to commercial. This process is called:Land Use & Zoning
- Alaska requires licensees to provide a written agency disclosure to clients:Alaska License Law
- An Alaska property owner is selling their one personally owned home without an agent, and does not advertise. Are they exempt from the Fair Housing Act?Fair Housing
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.
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.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Study This Topic
Practice More Alaska Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Alaska Quiz →