Agency
In Kansas, an agent who is representing a buyer in a new construction purchase needs to be aware that the builder's agent represents:
AThe buyer's interests in the transaction
BThe builder/seller, not the buyer — the buyer needs their own agent to represent their interests✓ Correct
CBoth the buyer and seller as a neutral facilitator
DKREC as the licensing authority
Explanation
The builder's sales agent represents the builder's interests. Buyers of new construction should engage their own buyer's agent or understand they are proceeding without representation of their interests.
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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.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
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.
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