Under Alaska law, which term describes the relationship in which a real estate licensee represents a buyer or seller as a client and owes that client full fiduciary duties?
Correct Answer
C) Agency relationship
Under 12 AAC 64.010 and AS 08.88, an agency relationship is the legal relationship in which a licensee represents a principal (buyer or seller) as a client and owes that principal full fiduciary duties including loyalty, confidentiality, obedience, disclosure, accounting, and reasonable care.
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Which duty requires an agent to keep the principal informed of all material facts?
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