Agency
An Oklahoma buyer's agent who earns a commission from the seller's proceeds is:
AAutomatically a dual agent
BA subagent of the seller
CStill acting as the buyer's agent; compensation source does not determine agency relationship — the brokerage agreement defines representation✓ Correct
DRequired to refund any commission to the buyer
Explanation
In Oklahoma, a buyer's agent can be compensated from the seller's proceeds (through cooperative compensation) without changing the agency relationship. The brokerage agreement — not the payment source — determines who the agent represents.
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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.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same 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.
Math Concepts
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