Broker Angela in Indiana is working exclusively as a buyer's agent for client Robert, who is searching for a home in Carmel. Angela shows Robert several properties listed by other brokerages. Under Indiana's Agency Relationships Act, which of the following best describes Angela's primary legal obligation in this relationship?
Correct Answer
B) Angela owes fiduciary duties to Robert, including loyalty, confidentiality, and acting in his best interest
Under IC 25-34.1-10, when a broker enters into a buyer agency relationship, the broker owes full fiduciary duties to the buyer-client, including loyalty, confidentiality, obedience, disclosure, accounting, and reasonable care. Angela must act exclusively in Robert's best interest, which includes keeping his financial capacity and motivation confidential from sellers.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
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