Agency
When an Oklahoma listing agent holds an open house, unrepresented visitors who inquire about purchasing the property should be:
ATreated as represented buyers without notification
BInformed of the agent's role as the seller's agent and offered the opportunity to seek their own representation before discussing offer terms✓ Correct
CRequired to sign a buyer's agency agreement on the spot
DDiscouraged from asking questions
Explanation
At an open house, a listing agent represents the seller. Unrepresented visitors must be informed of this agency relationship and advised they can seek their own representation.
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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.
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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