Under Connecticut agency law, a licensee representing a seller as a seller's agent owes fiduciary duties to the seller. Which of the following is NOT a fiduciary duty owed by a Connecticut seller's agent to the seller?
Correct Answer
D) Promoting the buyer's best interests in negotiating the purchase price
Promoting the buyer's best interests in negotiating the purchase price is NOT a fiduciary duty owed by a seller's agent to the seller — in fact, it is the opposite of what a seller's agent is obligated to do. A seller's agent in Connecticut owes fiduciary duties exclusively to the seller, which includes negotiating to achieve the best possible price and terms for the seller, not the buyer. Promoting the buyer's interests would constitute a breach of loyalty to the seller client.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
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