Under Washington's Law of Real Estate Agency (RCW 18.86), which term describes the licensee who is authorized by the seller to represent the seller's interests in a real estate transaction?
Correct Answer
C) Seller's agent
Under RCW 18.86.010, a 'seller's agent' is a licensee who has entered into an agency relationship with the seller and owes fiduciary-level statutory duties to the seller, including loyalty, disclosure, confidentiality, reasonable care, and accounting. This is the foundational term Washington law uses for a listing agent.
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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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