Agency
Under Alaska's agency law, a broker who manages a property also owned by the broker has a duty to:
AHide any personal financial benefit from the property
BDisclose the ownership interest to any prospective tenants or buyers✓ Correct
CCharge only market-rate rents without profit
DUse a third-party manager to avoid conflicts
Explanation
When a broker has a personal financial interest in a transaction — such as owning property they are managing, selling, or renting — they must disclose this interest to all parties they are dealing with. Undisclosed self-interest violates fiduciary and disclosure duties.
Related Alaska Agency Questions
- Under Alaska law, which action by an agent would constitute a breach of the duty of 'full disclosure' to a client?
- Under Alaska agency law, when must a licensee provide the agency disclosure to a potential buyer?
- A property manager acting as an agent for a landlord in Alaska owes the tenant:
- Which statement about a seller's agent in Alaska is TRUE?
- A buyer's agent in Alaska has a fiduciary duty to:
- When must an Alaska licensee present a written disclosure of agency to a client in a residential transaction?
- Which of the following BEST describes the duty of 'obedience' in an agency relationship?
- A salesperson's agency authority is best described as:
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