In South Dakota, a listing agent who represents the seller owes fiduciary duties to:
Correct Answer
B) The seller only
A listing agent represents the seller and owes fiduciary duties exclusively to the seller, including loyalty, obedience, disclosure, confidentiality, accounting, and reasonable care.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
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.
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
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- → A Vermont licensee is asked about a designated agency firm appoints separate agents for buyer and seller. What is the best answer?
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