Agency relationships in Iowa terminate for all of the following reasons EXCEPT:
Correct Answer
C) The agent finding a more desirable client
An agency relationship in Iowa may be terminated by expiration of the agreement, mutual consent, death or incapacity of either party, destruction of the property, or completion of the purpose. However, an agent cannot unilaterally abandon a client simply because a more desirable client becomes available — doing so would be a breach of fiduciary duty and a violation of Iowa real estate license law.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
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