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AgencyFiduciary_dutiesEASY

A listing broker owes fiduciary duties to which party?

Correct Answer

B) The seller

A listing broker represents the seller and owes fiduciary duties exclusively to the seller as the client. The broker owes only statutory duties of honesty and disclosure to the buyer as a customer.

Answer Options
A
The buyer
B
The seller
C
Both the buyer and the seller
D
The lender

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Related Topics & Key Terms

Related Topics:

Listing agreementFiduciary duties (OLD CAR)Client vs. customer distinctionDual agency in OklahomaTransaction brokerage

Key Terms:

listing brokerfiduciary dutiesseller's agentclient vs. customerlisting agreement
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