An Arizona designated agency arrangement means:
Why Different salespersons within the same brokerage represent the buyer and seller separately Is Correct
Answer B: Different salespersons within the same brokerage represent the buyer and seller separately
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
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- When a designated broker in Arizona assigns one salesperson to represent the buyer and a different salesperson from the same brokerage to represent the seller in the same transaction, this is known as:Agency
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- In Arizona, a designated broker must ensure that their brokerage's written policies and procedures address:Arizona License Law
Key Terms to Know
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.
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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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