Alaska License LawIntermediateAlaska Exam
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, though this can vary by county
BThe broker's fiduciary duty to market the property in the seller's best interestsCorrect
CAntitrust violations related to price fixing
DEnvironmental disclosure requirements
Why The broker's fiduciary duty to market the property in the seller's best interests Is Correct
Answer B: The broker's fiduciary duty to market the property in the seller's best interests
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.
Key Alaska License Law Terms in This Question
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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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