Under Arkansas law, what is required before a broker may act as a dual agent?
Correct Answer
B) Written informed consent from both the buyer and the seller
Arkansas law requires that a broker obtain written informed consent from both the buyer and the seller before acting as a dual agent. Verbal consent alone is insufficient, and no AREC approval or court order is required.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
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.
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