AgencyIntermediateArizona Exam

Which of the following BEST describes a buyer's agent in Arizona?

AAn agent who works exclusively with sellers

BAn agent who represents the buyer's interests exclusively in a transactionCorrect

CAn agent who is a subagent of the listing broker

DAn agent who works for the seller but assists the buyer

Why An agent who represents the buyer's interests exclusively in a transaction Is Correct

Answer B: An agent who represents the buyer's interests exclusively in a transaction

A buyer's agent represents the buyer's interests exclusively, owes fiduciary duties to the buyer, and is obligated to negotiate the best possible terms for the buyer.

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

Buyer's Agent

A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.

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Key Terms to Know

Buyer's Agent

A 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.

Fiduciary Duty

The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.

Agency

A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.

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