Agency
A Kentucky real estate agent who is also a licensed appraiser may perform both services on the same transaction if:
AThe agent's broker gives written permission
BBoth parties provide written informed consent and the services are disclosed✓ Correct
CThe appraisal is for the buyer's lender only
DThe agent's license is on inactive status while appraising
Explanation
Performing dual roles (agent and appraiser) in the same transaction creates a conflict of interest. Both parties must provide written informed consent after full disclosure.
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Key Terms to Know
Appraisal
A professional estimate of a property's market value prepared by a licensed or certified appraiser.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate 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.
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