Under Kansas BRRETA, a seller's agent owes the seller specific fiduciary duties. Which of the following is NOT a fiduciary duty owed by a Kansas seller's agent to the seller-principal?
Correct Answer
D) Impartiality — treating the seller and the buyer with equal fairness and without favoring either party
Impartiality — treating both parties equally without favoring either — is a characteristic of a transaction broker, not a seller's agent. A seller's agent is a fiduciary who is specifically obligated to favor and prioritize the seller's interests. Equal treatment of buyer and seller is incompatible with the seller's agent's duty of loyalty. Impartiality is a duty of the non-fiduciary transaction broker, not the seller's agent.
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Related Topics & Key Terms
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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