Agency
In a traditional seller agency relationship, the licensee's fiduciary duties run primarily to:
AThe buyer
BThe seller/client✓ Correct
CAREC
DThe MLS
Explanation
In a seller agency relationship, the broker and their licensees are the fiduciary agents of the seller, meaning their primary duties — loyalty, confidentiality, obedience, disclosure, accounting, and reasonable care — are owed to the seller.
Related Arkansas Agency Questions
- A net listing is prohibited in Arkansas because it:
- The agency relationship between a listing broker and seller is typically created by:
- In Arkansas, the agency disclosure form must be:
- A buyer's agent who learns the subject property has a zoning change pending that will allow a neighboring commercial development should:
- An agent who continues to act on behalf of the principal after the agency has been revoked may be liable for:
- Dual agency in Arkansas requires:
- Which of the following best describes a subagent?
- In Arkansas, when a licensee works with a buyer but has NO written buyer-agency agreement, the licensee is presumed to be:
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