Idaho Real Estate Practice Exam

Which agency relationship is NOT recognized in Idaho?

1. Exclusive buyer representation

2. Informed dual agency

3. Limited representation

4. Unrestricted seller representation

The correct answer is: Unrestricted seller representation

In Idaho, the concept of "unrestricted seller representation" does not align with the established framework of agency relationships recognized by state law. In real estate practice, agency relationships must adhere to specific obligations and duties outlined in the Idaho Real Estate License Law. These relationships include various forms of representation that provide consumers with clarity and protection. For example, exclusive buyer representation ensures that the interests of the buyer are prioritized, while informed dual agency refers to the practice where a single agent represents both the buyer and seller, with full disclosure and consent. Limited representation allows for a seller's agent to provide certain services without assuming full fiduciary duties. In contrast, “unrestricted seller representation” suggests an absence of defined boundaries or duties, which is not permissible within Idaho law. Agency relationships must operate within recognized frameworks to ensure ethical practices and protect the interests of all parties involved in a transaction. Thus, since this option implies a lack of structure or oversight, it is not recognized in Idaho.