In Texas, a broker's fiduciary duties to a client include all of the following EXCEPT:
Correct Answer
C) Guaranteeing profit
Fiduciary duties include loyalty, obedience, disclosure, confidentiality, accounting, and reasonable care. Guaranteeing profit is not a duty.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
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.
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