Under the Kansas Brokerage Relationships in Real Estate Transactions Act (BRRETA), what is the DEFAULT brokerage relationship when a Kansas licensee begins working with a buyer and no written agency agreement has been signed?
Correct Answer
D) Transaction broker, because no written agency agreement exists
Under K.S.A. 58-30,103 (BRRETA), the default brokerage relationship in Kansas is the transaction broker relationship. Absent a written agreement establishing a buyer agency or seller agency relationship, a licensee is presumed to be operating as a transaction broker, assisting the parties without acting as a fiduciary agent for either side.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
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.
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