Agent Rivera works for Des Moines Realty and has a signed buyer representation agreement with the Johnson family. The Johnsons want to purchase a home listed by a different brokerage, Heartland Properties. In this transaction, what is Agent Rivera's agency relationship with the Johnsons?
Correct Answer
D) Rivera is a buyer's agent representing only the Johnsons' interests
Because Agent Rivera has a signed buyer representation agreement with the Johnsons, Rivera is acting as the Johnsons' exclusive buyer's agent. Rivera owes fiduciary duties solely to the Johnsons, including loyalty, confidentiality, disclosure, obedience, reasonable care, and accounting. The fact that the listing is held by a different brokerage does not change Rivera's agency status — Rivera represents the buyers, and Heartland Properties represents the seller.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
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