In Iowa, a subagent owes their primary fiduciary duty to:
Correct Answer
B) The seller, through the listing broker
A subagent is an agent of the listing broker and, through that relationship, owes fiduciary duties to the seller. Even though a subagent may work directly with a buyer, their loyalty and fiduciary obligation run to the seller via the listing broker.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
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