Agency
When does an agency relationship with a buyer typically begin?
AWhen the buyer views their first property
BWhen the buyer signs a buyer representation agreement or when the agent begins acting as the buyer's representative✓ Correct
CWhen the buyer makes an offer
DWhen the listing agent is contacted
Explanation
A formal buyer agency relationship typically begins when the buyer signs a buyer representation agreement. Implied agency may begin earlier if an agent acts as though they represent the buyer before a formal agreement is signed.
Related Arkansas Agency Questions
- A transaction broker (non-agent facilitator) in Arkansas owes clients which level of duty?
- Which action by an agent would constitute a breach of the duty of loyalty?
- Designated agency means:
- A licensee working as a buyer's agent has a personal interest in a listing their buyer wants to purchase. The agent must:
- In Arkansas, dual agency occurs when a broker represents:
- A real estate agent who represents both the buyer and seller in the same transaction is known as a:
- Under Arkansas law, must a seller disclose that a murder occurred in the home?
- An agent's duty of CARE requires the agent to:
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