Agency
A buyer's broker agreement in Nevada:
APrevents the buyer from viewing homes not listed in the MLS
BCreates a fiduciary agency relationship between the broker and buyer✓ Correct
CRequires the broker to find a home within 30 days
DEliminates any commission obligation for the buyer
Explanation
A buyer's broker agreement establishes a formal agency relationship with fiduciary duties, defining the scope of representation, compensation, and duration of the agreement.
People Also Study
Related Nevada Questions
- In a Nevada transaction with a designated agency arrangement, the designated agent owes fiduciary duties to:Agency
- What is 'scope of authority' in a Nevada real estate agency relationship?Agency
- In Nevada, can a licensee representing a buyer also accept compensation from the seller without violating agency duties?Agency
- In Nevada, which document is used to establish a written agency relationship between a buyer and a licensee?Agency
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.
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.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Math Concepts
Study This Topic
Practice More Nevada Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Nevada Quiz →