In Montana, a subagent working through a listing agreement owes fiduciary duties to which party?
Correct Answer
B) The seller, through the listing broker who created the subagency relationship
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, the subagent's loyalty runs to the seller. In Montana, licensees must disclose subagency relationships to all parties.
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Related Topics & Key Terms
Related Topics:
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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