Utah Real Estate Sales Agent Exam — All Questions
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In Utah, when one brokerage represents both the buyer and the seller in the same transaction, the arrangement is known as:
- a.Subagency
- b.Universal agency
- c.Open agency
- d.Limited agency✓
Utah treats representation of both the buyer and the seller by one brokerage as limited agency, which requires the informed written consent of both parties. A limited agent must stay neutral on price and terms and may not disclose one party's confidential information to the other.
A Utah licensee who represents the seller as the seller's agent owes the seller:
- a.Only a duty to find any buyer at any price
- b.Fiduciary duties including loyalty, confidentiality, and reasonable care✓
- c.No duties once an offer is written
- d.The same undivided loyalty to the buyer as well
A Utah seller's agent owes the seller fiduciary duties including loyalty, confidentiality, obedience to lawful instructions, full disclosure, accounting, and reasonable care. To the buyer as the other party, the agent still owes honesty and must disclose known material defects.