In Arizona, an agent who represents both the buyer and seller in the same transaction is called a:
Why Limited consensual dual agent Is Correct
Answer D: Limited consensual dual agent
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.
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- In Arizona, 'consensual dual agency' requires which of the following from both parties?Agency
- In Arizona, a 'consensual dual agency' arrangement requires the licensee to provide reduced services to both parties. Specifically, the agent is NOT required to:Agency
- In Arizona, when a broker represents both the buyer and seller in the same transaction, this is known as:Agency
- Arizona requires that dual agency (limited representation) be disclosed and consented to:Agency
- Which of the following BEST describes 'limited dual representation' under Arizona license law?Arizona License Law
- Arizona uses a 'limited cash value' assessment system where residential property is assessed at a percentage of its full cash value. The standard assessment ratio for residential property in Arizona is:Property Valuation
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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