Under RESA, what obligation does a licensee have when dealing with an unrepresented party?
Correct Answer
C) The licensee must inform the unrepresented party that they do not represent them and recommend they seek independent advice
When dealing with an unrepresented party, RESA requires the licensee to clearly inform that party that the licensee does not represent them and to recommend that they seek independent professional advice. The licensee must still act honestly and with reasonable care.
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Previous Question
Under RESA, a managing broker becomes aware that a licensee in the brokerage has failed to disclose a conflict of interest in a transaction. What is the managing broker's obligation?
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Under RESA, which of the following is a duty that a licensee owes to ALL parties in a transaction, including unrepresented parties?