An Arizona buyer who purchases a property without any agent representation is called a(n):
Why Customer Is Correct
Answer C: Customer
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
People Also Study
Related Arizona Questions
- Arizona requires that dual agency (limited representation) be disclosed and consented to:Agency
- Arizona's dual agency (limited representation) requires:Agency
- The fiduciary duty of confidentiality in an Arizona agency relationship means the agent must:Agency
- In Arizona, an agent who shows their own listing to an unrepresented buyer is typically acting as a:Agency
- An Arizona listing agreement gives a broker the right to sell a property, but the seller retains the right to sell it themselves without owing a commission. This is called a(n):Contracts
- An Arizona property sold for $350,000. The total commission rate is 6%. The listing broker and buyer's broker split the commission 50/50. How much does each broker receive?Real Estate Math
- Which of the following BEST describes 'limited dual representation' under Arizona license law?Arizona License Law
- The total commission on a $420,000 sale is 6%. The listing side receives 50% and the selling side 50%. The listing salesperson's split with the broker is 60/40 in the salesperson's favor. How much does the listing salesperson receive?Real Estate Math
Key Terms to Know
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate 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.
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.
Study This Topic
Practice More Arizona Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free Arizona Quiz →