Agency
In Kentucky, a buyer using a licensee without signing any agreement is most likely being served as:
AA disclosed limited agent client
BA customer through a transaction broker or subagent of the listing broker✓ Correct
CA dual agency client
DA principal broker's client
Explanation
Without a written buyer's representation agreement, a buyer may be served as a customer by a transaction broker or may be working with a subagent of the listing broker.
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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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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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