Agency
In Arkansas, a buyer's agent owes which of the following duties to the buyer-client?
ALoyalty, confidentiality, disclosure, obedience, reasonable care, and accounting✓ Correct
BOnly the duty to present all offers
CLoyalty to both buyer and seller equally
DDisclosure only of material defects
Explanation
A buyer's agent in Arkansas owes the same fiduciary duties to their buyer-client as a seller's agent owes to a seller: loyalty, confidentiality, disclosure, obedience, reasonable care, and accounting.
Related Arkansas Agency Questions
- A buyer's agent discovers that their buyer-client has a maximum budget of $300,000 but the seller is asking $280,000. Under buyer agency, the agent should:
- In a traditional seller agency relationship, the licensee's fiduciary duties run primarily to:
- An agent's authority to bind the principal in contract is called:
- In an in-house transaction where the same brokerage represents both buyer and seller, the broker may avoid dual agency by using:
- Which type of listing agreement is generally considered most advantageous to the listing broker?
- When a buyer's agent presents multiple offers to a seller's agent, the seller's agent should:
- A subagent is best described as:
- A seller's agent receives an offer that is $10,000 below asking price. The agent believes the offer is fair. The agent should:
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