Agency
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 transaction✓ Correct
COnly shows buyer-listed properties
DReceives compensation from the MLS cooperative arrangement
Explanation
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.
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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.
AgencyA 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 AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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