Agency
In Kentucky, which type of agency relationship is created when a real estate licensee represents only the buyer?
ASeller's agency
BBuyer's agency✓ Correct
CDual agency
DSubagency
Explanation
A buyer's agency relationship is created when a Kentucky licensee represents only the buyer's interests in a real estate transaction.
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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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