Agency
A Kentucky listing agent who represents the seller is approached by an unrepresented buyer. The agent should:
AAutomatically represent the buyer as a dual agent
BClarify their agency relationship and inform the buyer they represent the seller✓ Correct
CRefuse to show the property to any unrepresented buyer
DRefer the buyer to another agent before answering questions
Explanation
When approached by an unrepresented buyer, the listing agent must clarify their agency role and inform the buyer that they represent the seller's interests, not the buyer's.
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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.
Buyer's AgentA 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.
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