Arkansas Real Estate License Exam

Access More Questions

A licensee with ABC Realty has a buyer representation agreement. The buyer becomes interested in a property listed by another agent at ABC Realty. To proceed with the transaction, what specific type of agency must be created, and what is required?

Designated agency, which requires appointing two separate agents within the firm. Implied agency, which is created by the actions of the agents and parties. Sub-agency, where both agents work for the seller. Dual agency, which requires prior written consent from both the buyer and the seller.

Correct Answer:

Dual agency, which requires prior written consent from both the buyer and the seller.

Access more questions from this quiz

Continue to Arkansas Real Estate License Exam for more practice questions and the full quiz experience.

Access More Questions