AgencyIntermediateArizona Exam

In Arizona, the term 'buyer's agent' means an agent who:

AIs paid by the buyer

BRepresents and owes fiduciary duties to the buyer in the transactionCorrect

COnly shows buyer-listed properties

DReceives compensation from the MLS cooperative arrangement

Why Represents and owes fiduciary duties to the buyer in the transaction Is Correct

Answer B: Represents and owes fiduciary duties to the buyer in the transaction

A buyer's agent represents the buyer and owes them fiduciary duties regardless of who pays the compensation. The source of compensation does not determine agency representation.

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

Agency

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

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.

Agency

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

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.

Dual Agency

A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.

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