Agency
In Rhode Island, when a buyer's agent submits an offer on a listed property, who does the agent represent?
AThe seller only
BThe buyer only (unless a dual agency agreement is in place)✓ Correct
CBoth buyer and seller equally
DThe MLS board of directors
Explanation
A buyer's agent represents the buyer's interests when submitting an offer. They are obligated to act in the buyer's best interests, negotiate on the buyer's behalf, and maintain buyer confidentiality throughout the process.
Related Rhode Island Agency Questions
- In Rhode Island, the duty of 'obedience' requires an agent to:
- What does 'scope of authority' mean for a Rhode Island real estate agent?
- Agency can be terminated by all of the following EXCEPT:
- The duty of confidentiality in an agency relationship means the agent must:
- A net listing is one in which the broker's commission is:
- A buyer's broker submits an offer on a listed property and discloses that they represent the buyer. The listing broker is required to:
- In Rhode Island, the agency disclosure form must be provided to a prospective buyer or seller:
- In Rhode Island, 'net listing' agreements are:
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