In Utah, a written agency disclosure provided to a buyer must accomplish which of the following primary purposes?
Correct Answer
D) Inform the buyer of the nature of the agency relationship the licensee has or intends to have with the parties
Under Utah Code Ann. § 61-2f-401 and R162-2f-401, the written agency disclosure is designed to inform the consumer of the nature of the agency relationship — specifically, who the licensee represents (seller, buyer, or both as a limited agent). This transparency allows the buyer to make informed decisions before engaging in the showing or transaction.
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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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