Arizona 6-Hour Real Estate Contract Practice Test

In Arizona, the requirement for dual agency is that both the buyer and the seller must provide informed consent. This means that both parties need to fully understand the implications and potential conflicts of interest that can arise when one agent represents both sides in a transaction. Providing informed consent ensures that both parties are aware of the dual agency situation and agree to it knowingly, which is crucial for maintaining transparency and ethical standards in real estate transactions.

Requiring informed consent protects the interests of both the buyer and seller, as they are made aware of the responsibilities and limitations of the agent acting in a dual capacity. This step helps ensure that agents do not take advantage of their position and that all parties are fully informed about the nature of the representation they are receiving. This requirement for informed consent is a key component of the fiduciary duty agents owe to their clients, maintaining trust and accountability in the real estate process.