Agency
What is a 'cooperating broker' in Idaho real estate?
AA broker who agrees to work with any seller
BA broker (other than the listing broker) who works with a buyer and may earn part of the commission if the transaction closes✓ Correct
CA broker who handles only commercial transactions
DA broker licensed in another state working in Idaho
Explanation
A cooperating broker is one who works with a buyer and brings them to a listed property. If the transaction closes, the cooperating broker typically earns the buyer's agent commission as offered by the listing broker in the MLS.
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same 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.
Math Concepts
State-Specific Concepts
Broker Supervision
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