Agency
What is an 'agency coupled with an interest' in Idaho real estate?
AAgency where both parties pay the agent
BAn agency where the agent has a personal financial interest in the transaction (e.g., holds an option or owns part of the property), making it difficult to revoke✓ Correct
CAgency created with a joint venture partner
DDual agency with financial considerations
Explanation
Agency coupled with an interest is an agency where the agent has a personal interest in the subject matter of the agency (such as a security interest or option to purchase). Such agency generally cannot be revoked by the principal alone.
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Key Terms to Know
Agency
A 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.
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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