Agency
Which of the following would constitute an undisclosed dual agency in Arkansas?
ATwo agents from different brokerages representing opposite parties
BOne agent representing both buyer and seller without written consent✓ Correct
CA broker representing a buyer who later lists a different property
DA broker referring a buyer to another brokerage for compensation
Explanation
Undisclosed dual agency — acting for both parties without their written informed consent — is illegal in Arkansas and can result in license revocation and loss of commission.
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Key Terms to Know
Dual Agency
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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