Agency
Arkansas law requires dual agency to be disclosed and consented to in:
AA verbal agreement witnessed by a neutral third party
BA written informed consent signed by both parties✓ Correct
CAn MLS disclosure form filed before listing
DA notarized affidavit submitted to AREC
Explanation
Arkansas requires that dual agency be disclosed and that both the buyer and seller provide written informed consent before a broker may legally represent both parties in the same transaction.
Related Arkansas Agency Questions
- If a buyer's agent learns that the buyer's maximum budget is $250,000 while the listing is priced at $230,000, the agent should:
- In an Arkansas real estate transaction, the agent who represents the seller is typically called the:
- An agent's duty of CARE requires the agent to:
- An agent who has NOT been hired by a buyer but nonetheless acts in ways that create a reasonable belief of representation is an example of:
- When a salesperson acts as a dual agent, which of the following statements is TRUE?
- An agent who earns a fee from both the buyer and the seller without disclosing this to both parties is guilty of:
- When does an agency relationship with a buyer typically begin?
- An agent's duty of obedience requires the agent to follow all lawful instructions of the principal. Which instruction would an agent be JUSTIFIED in refusing?
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