Under Alaska real estate regulations, what is the term for a licensee who represents BOTH the buyer and the seller in the same transaction with the written informed consent of both parties?
Correct Answer
A) Dual agent
Under 12 AAC 64.010, a dual agent is a licensee who represents both the buyer and the seller in the same transaction. Alaska law requires written informed consent from both parties before a licensee may act as a dual agent, and the licensee's fiduciary duties to each party are necessarily limited in this role.
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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?
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Sarah is a licensed salesperson working under Broker Tom in Anchorage. A seller lists her home with Broker Tom's office, and Sarah is assigned to represent the seller exclusively. Under Alaska law, what type of agency relationship does Sarah have with the seller?