In a licensing seminar in Queen Creek, a broker begins representing both buyer and seller in the same transaction without obtaining prior written consent from both parties. What is the most accurate response?
Correct Answer
A) acting for more than one party without the required informed written consent is disciplinary conduct in Arizona
Under A.R.S. § 32-2153; A.A.C. R4-28-1101(F), acting for more than one party without the required informed written consent is disciplinary conduct in Arizona.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Price fixing is an illegal antitrust practice in which competing real estate brokerages agree to charge the same commission rates, fees, or other pricing for their services. It is a per se violation of the Sherman Antitrust Act.
Florida brokers are required to maintain transaction records and escrow records for a minimum of five years.
A tie-in arrangement is an illegal antitrust practice in which a seller conditions the purchase of one product or service on the buyer's agreement to purchase a separate product or service.
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