Arkansas agent Brian is helping seller Maria list her Fort Smith home. During the listing presentation, Brian explains the different types of agency relationships available under Arkansas law. Maria asks what type of relationship exists between her and Brian's brokerage once she signs the listing agreement. Brian should correctly explain that this creates a:
Correct Answer
A) Seller agency relationship
When a seller signs a listing agreement with a brokerage in Arkansas, a seller agency relationship is created. The brokerage and its affiliated licensees become the seller's agent, owing Maria full fiduciary duties including loyalty, confidentiality, disclosure, obedience, reasonable care, and accounting. This is the foundational seller-side agency relationship established by the listing contract.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
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