Agency
In Tennessee, a buyer's representation agreement creates a:
ASubagency relationship with the listing broker
BFiduciary relationship between the buyer and the buyer's broker✓ Correct
CTransaction brokerage relationship only
DDual agency with the seller's agent
Explanation
A buyer's representation agreement establishes a fiduciary agency relationship between the buyer and the broker. The broker owes the buyer full fiduciary duties including loyalty, confidentiality, disclosure, obedience, and reasonable care.
Related Tennessee Agency Questions
- A seller's agent in Tennessee MUST disclose to a buyer:
- In Tennessee, an agent who acts beyond the scope of authority granted in the agency agreement is acting as a(n):
- Which of the following best describes the concept of 'vicarious liability' in real estate agency?
- Express agency is created by:
- In Tennessee, a licensee who also has a personal financial interest in a transaction (for example, part-owner of the company buying the listing) must:
- The 'right to control' test in determining employment versus independent contractor status in real estate focuses on whether:
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- A Tennessee broker who represents both the buyer and seller in the same transaction without disclosure and written consent is guilty of:
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