Agency
In a transaction brokerage (non-agency) relationship in Arizona, the licensee owes the customer:
AFull fiduciary duties
BLimited duties including honesty, disclosure of material facts, and accounting for funds✓ Correct
CNo duties at all
DOnly the duty of care
Explanation
In a non-agency/transaction brokerage relationship, the licensee owes limited duties: honesty, disclosure of known material facts, and accounting for funds, but does not owe fiduciary duties such as loyalty or confidentiality.
Related Arizona Agency Questions
- In Arizona, a real estate agent who acts for both buyer and seller without disclosure of dual agency and without consent may be liable for:
- A transaction broker in Arizona:
- An agency relationship can be terminated by all of the following EXCEPT:
- An Arizona agent learns their buyer client is willing to pay up to $50,000 more than the list price. The agent must:
- Which of the following BEST describes a buyer's agent in Arizona?
- An exclusive agency listing in Arizona differs from an exclusive right-to-sell listing in that:
- An Arizona licensee acting as a 'transaction broker' owes which of the following duties?
- In Arizona, when a broker represents both the buyer and seller in the same transaction, this is known as:
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