AgencyIntermediateArizona Exam

In Arizona, when a seller lists their property and a different buyer inquires, the buyer should be informed:

AThat the agent cannot assist them in any capacity since the agent exclusively represents the seller; the buyer must contact another agent at a separate brokerage

BOf the agency relationship and their options: work with the listing agent as a limited consensual dual agent or use their own buyer's agentCorrect

CThat the MLS has already received all disclosure information and the buyer should contact the MLS directly for property details before contacting any agent

DThat the agent will represent them as a buyer's agent by default unless the buyer signs a written disclaimer acknowledging the potential conflict of interest

Why Of the agency relationship and their options: work with the listing agent as a limited consensual dual agent or use their own buyer's agent Is Correct

Answer B: Of the agency relationship and their options: work with the listing agent as a limited consensual dual agent or use their own buyer's agent

Arizona licensees must disclose agency relationships at first substantive contact. A buyer inquiring on a listed property should be informed that the agent represents the seller and offered the option of having their own buyer 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

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.

Dual Agency

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

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