Agency
A licensee who represents a buyer while receiving compensation from the seller without disclosure is:
AEntitled to compensation from any available source
BIn violation of Tennessee license law — all compensation arrangements must be disclosed✓ Correct
CEngaging in standard subagency practice
DPermitted as long as the compensation is under 3%
Explanation
Tennessee requires full disclosure of all compensation arrangements. Receiving compensation from the seller while representing the buyer — without disclosure and consent — violates fiduciary duties and Tennessee license law.
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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.
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.
State-Specific Concepts
License Law
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