Agency
Under Alaska agency law, a licensee acting as a 'facilitator' (non-agent) owes which duties?
AFull fiduciary duties to both parties
BLoyalty and confidentiality to each party
CHonesty, disclosure of known material facts, and fair dealing to both parties✓ Correct
DNo duties to either party beyond basic courtesy
Explanation
A non-agent facilitator in Alaska owes limited but important duties to both parties: honesty, fair dealing, and disclosure of known material facts. The facilitator does not owe fiduciary duties such as loyalty or confidentiality.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
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.
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.
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