During an Arizona file audit in Pima County, julian signed a buyer-broker agreement and asks whether the broker may still favor the listing broker's interests when advising on offer price. Which statement should the broker communicate?
Correct Answer
D) a buyer's agent owes fiduciary duties to the buyer-client, including loyalty and confidentiality
Under A.A.C. R4-28-1101; current AAR buyer-broker agreement, a buyer's agent owes fiduciary duties to the buyer-client, including loyalty and confidentiality.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
More Az Agency Disclosures Questions
While reviewing a transaction in Mohave County, a designated broker claims there is no need to supervise listing agents' disclosure or advertising practices because each salesperson is independent. Which statement is most accurate under current Arizona rules?
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- → Under the current AAR Buyer-Broker Exclusive Employment Agreement, under the current AAR Consent to Limited Representation, in a Gilbert transaction review, under current Arizona rules, each of the following statements about agency types az is generally accurate EXCEPT.
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While reviewing a transaction in Yuma County, a shopper casually asks an open-house host for directions to the kitchen and later claims a full agency relationship was created on the spot. What is the most accurate response?
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