In a traditional listing agreement, to whom does the listing broker owe fiduciary duties?
Correct Answer
B) The seller
In a traditional listing agreement, the listing broker represents the seller as their client and owes full fiduciary duties exclusively to the seller, including loyalty, confidentiality, obedience, disclosure, accounting, and reasonable care.
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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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