Broker Linda's office in Juneau has two salespersons: Agent A represents the seller of a property listed at $450,000, and Agent B represents a buyer who wants to make an offer on that same property. Both agents work under Broker Linda. Under Alaska law, what agency arrangement is most appropriate for this situation, and what must occur before it can proceed?
Correct Answer
A) Dual agency by Broker Linda's office; written informed consent must be obtained from both the buyer and the seller
Under 12 AAC 64.060, when two licensees within the same brokerage represent opposite parties in the same transaction, the brokerage is in a dual agency situation (sometimes called in-house dual agency or designated agency depending on the brokerage's structure). Alaska law requires written informed consent from both the buyer and the seller before the transaction can proceed in this manner. Each agent may continue to represent their respective client as a designated agent, but the overall brokerage is a dual agent and must disclose this to both parties.
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Marcus, a licensed salesperson in Fairbanks, is showing property to a buyer named Elena. Marcus has not signed a written buyer representation agreement with Elena and has not given her an agency disclosure. Elena asks Marcus to keep her top offer price confidential. Under Alaska law, what is Marcus's most likely agency status with respect to Elena at this point?
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During an open house in Wasilla, a buyer named Kevin tells the listing agent, "I love this house and I'll pay whatever it takes to get it." The listing agent does not represent Kevin. Under Alaska law, what must the listing agent do with this information?