Agency
When an Alaska broker accepts a listing, the legal relationship created is between the:
ASalesperson and the seller
BBrokerage and the seller✓ Correct
CMLS and the seller
DSalesperson and the salesperson's supervising broker
Explanation
The listing agreement creates an agency relationship between the brokerage (not the individual salesperson) and the seller. The salesperson acts on behalf of the employing broker.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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.
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