Agency
Designated agency in Arkansas allows a broker to:
ARepresent both buyer and seller as dual agent
BAssign different agents within the same brokerage to exclusively represent the buyer and seller respectively✓ Correct
CRepresent neither party in the transaction
DTransfer the agency relationship to another brokerage
Explanation
Designated agency allows a broker to designate one licensed agent to exclusively represent the seller and another to exclusively represent the buyer, even though both work for the same brokerage. This reduces conflicts of dual agency.
Related Arkansas Agency Questions
- A buyer's agent is showing homes to a buyer who has told the agent they are being transferred and must move in 60 days. When negotiating, the agent should:
- A listing agent has a personal financial interest in a title company and routinely recommends it to sellers without disclosure. This creates:
- An agent who tells a buyer that a neighborhood is 'up and coming' and a great investment, without factual basis, may be guilty of:
- An Arkansas buyer's agent learns that their buyer client is willing to pay up to $250,000 for a property listed at $235,000. The agent:
- Which of the following best describes ratification as a method of creating an agency?
- A listing agent learns that the seller is going through a divorce and must sell quickly. The listing agent must:
- A buyer asks their agent not to disclose they are paying cash (no financing contingency). The agent should:
- 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?
Practice More Arkansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arkansas Quiz →