Alaska License Law
Under Alaska law, a 'pocket listing' in which a broker withholds a listing from the MLS to offer it exclusively to the broker's own buyers may raise concerns about:
AViolating Alaska's mandatory MLS participation law
BThe broker's fiduciary duty to market the property in the seller's best interests✓ Correct
CAntitrust violations related to price fixing
DEnvironmental disclosure requirements
Explanation
While not categorically prohibited, pocket listings may compromise a broker's fiduciary duty to seek the best possible price for the seller through maximum market exposure. NAR's Clear Cooperation Policy (applicable to MLS participants) limits the ability to withhold listings from the MLS.
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Key Terms to Know
Fiduciary Duty
The 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.
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.
State-Specific Concepts
Disclosure Requirements
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