In a traditional listing agreement, a Rhode Island listing broker owes fiduciary duties to:
Correct Answer
B) The seller only
In a traditional listing agreement, the listing broker represents the seller and owes fiduciary duties exclusively to the seller. The buyer is treated as a customer, not a client, unless a separate buyer agency relationship is established.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
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