In a licensing seminar in Phoenix, a broker begins representing both buyer and seller in the same transaction without obtaining prior written consent from both parties. Which outcome best matches current Arizona practice?
Correct Answer
D) 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
Antitrust violations in real estate occur when competing brokerages or agents engage in practices that restrain trade, reduce competition, or harm consumers through collusion. These violations are governed by the Sherman Antitrust Act and can result in severe penalties.
Broker supervision is the legal obligation of a designated or managing broker to oversee and be accountable for the real estate activities of all salespersons and associate brokers operating under their license.
Commingling is the illegal act of mixing client funds with a broker's personal or business operating funds, while conversion is the unauthorized use of client funds for the broker's own benefit. Both are serious violations that can result in license revocation.
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