Agency
In Arkansas, dual agency occurs when a broker represents:
ATwo buyers competing for the same property
BBoth the buyer and seller in the same transaction✓ Correct
CA buyer and a lender simultaneously
DA seller and a property inspector in the same deal
Explanation
Dual agency arises when one broker (or brokerage) represents both the buyer and seller in a single transaction, creating potentially conflicting fiduciary obligations.
Related Arkansas Agency Questions
- Which of the following would constitute an undisclosed dual agency in Arkansas?
- 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:
- A seller's listing agent discovers a material defect in the property. The agent's duty regarding this defect is to:
- AREC requires agency disclosure in Arkansas to be made to prospective buyers and sellers. The primary purpose of agency disclosure is to:
- Puffing in real estate is best described as:
- Which of the following actions by a buyer's agent is an example of a breach of fiduciary duty?
- The duty of obedience in an agency relationship requires the agent to:
- When a buyer tells an agent they will pay up to $300,000 but want to start at $270,000, the agent should:
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