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Ethics ComplianceWAEASY

Under the Real Estate and Business Agents Act 1978 (WA), what is the fundamental duty an agent owes to their client?

Correct Answer

D) A fiduciary duty to act honestly, fairly and in the client's best interests

A WA real estate agent owes a fiduciary duty to their client, which includes acting honestly, fairly, and in the client's best interests. This encompasses duties of loyalty, disclosure, confidentiality, and the obligation to avoid conflicts of interest.

Answer Options
A
A duty to maximise the agency's income from each transaction it handles
B
A duty to follow every client instruction without exercising professional judgement
C
A duty to finish each transaction as quickly as possible, whatever price is achieved
D
A fiduciary duty to act honestly, fairly and in the client's best interests

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Related Topics & Key Terms

Key Terms:

fiduciary dutybest interestsloyalty
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