Under Alaska law, a listing agent is required to present all offers regardless of:
Why Both A and B Is Correct
Answer C: Both A and B
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.
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Related Alaska Questions
- An Alaska licensee who fails to present a written counteroffer to the seller's broker within a reasonable time may be in violation of their duty of:Alaska License Law
- An Alaska buyer's agent presents an offer below the listing price. The listing agent tells the buyer's agent that the seller 'needs to get at least $10,000 more than this offer.' This disclosure by the listing agent violates:Agency
- In Alaska, a listing agent may be authorized by the seller to accept offers on the seller's behalf under which type of authority?Agency
- A listing agent learns that the seller is willing to accept $20,000 less than the listed price. The agent should:Agency
- A listing agent in Alaska discovers that the seller concealed a leaking roof. The agent's duty is to:Agency
- An Alaska property sold for $315,000, which was 5% more than the original listing price. What was the original listing price?Real Estate Math
- In Alaska real estate practice, a broker price opinion (BPO) differs from an appraisal primarily because:Property Valuation
- A seller in Alaska lists a property at $560,000. After 45 days, the price is reduced by 3.5%. What is the new listing price?Real Estate Math
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.
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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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