Agency
In a typical California transaction, the selling broker (buyer's agent) is considered the agent of:
AThe listing broker
BThe seller
CThe buyer✓ Correct
DThe escrow company
Explanation
Under current California law and common practice, a selling broker who has a buyer representation agreement acts as the agent of the buyer, owing fiduciary duties to the buyer rather than the seller.
Related California Agency Questions
- When must a California listing agent confirm the agency relationship in writing?
- When does an agency relationship typically terminate in a listing agreement?
- Which type of agency relationship is created when a principal approves an act already performed without prior authorization?
- Under California law, a real estate salesperson legally works under the license of and owes their primary fiduciary duty to:
- A buyer's agent has a duty of disclosure. Which of the following must the buyer's agent disclose to the buyer?
- Under California law, which of the following disclosures is the listing agent required to make to a buyer?
- An agent who secretly profits from a transaction without the principal's knowledge has violated the fiduciary duty of:
- When may a California real estate licensee act as a principal (buying or selling for themselves) rather than as an agent?
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