Oklahoma Broker Practice Exam

In the context of a new home subdivision sale, the agency relationship that a realty firm has is typically with the home builder. This relationship is established because the home builder is usually the entity that hires the real estate firm to market and sell the homes in the subdivision. The realty firm acts on behalf of the builder to promote the properties, facilitate sales, and represent the builder's interests in transactions.

It's important to understand that while buyers may receive assistance from the real estate firm, the firm is ultimately representing the home builder's interests and objectives in the sale process. This means that the firm's fiduciary duty is to the builder, ensuring that the builder's needs and concerns are prioritized in all dealings associated with the subdivision.

This is a key aspect of real estate practice, as agency relationships dictate the responsibilities and obligations of the parties involved in real estate transactions, fostering clarity and transparency in the process.