Alaska License Law
Under Alaska license law, dual agency means:
AA broker who represents buyers in two separate transactions simultaneously
BA broker who represents both the seller and buyer in the same transaction✓ Correct
CA salesperson who works under two different brokers
DA firm that has offices in two different states
Explanation
Dual agency occurs when a single broker (or brokerage firm) represents both the seller and the buyer in the same transaction. In Alaska, dual agency is permitted only with written informed consent from both parties.
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Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Deed of TrustA security instrument used in many states instead of a mortgage, involving three parties: borrower (trustor), lender (beneficiary), and a neutral trustee.
State-Specific Concepts
License Law
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