Agency
A real estate agent who represents both the buyer and seller in the same transaction is known as a:
ATransaction agent
BDual agent✓ Correct
CSubagent
DDesignated agent
Explanation
Dual agency occurs when a single agent or brokerage represents both the buyer and the seller in the same transaction. In Arkansas, this must be disclosed and consented to by both parties.
Related Arkansas Agency Questions
- The duty of obedience in an agency relationship requires the agent to:
- A net listing in Arkansas is:
- Which of the following would MOST likely terminate an agency relationship?
- Which of the following is an example of an expressed agency relationship?
- A transaction broker in Arkansas:
- A buyer's agent who learns their client has been pre-approved for $350,000 but is making an offer of $290,000 should:
- When a buyer tells an agent they will pay up to $300,000 but want to start at $270,000, the agent should:
- AREC requires agency disclosure in Arkansas to be made to prospective buyers and sellers. The primary purpose of agency disclosure is to:
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