Under Louisiana law, a licensee acting as a seller's agent owes the seller several fiduciary duties. Which of the following is NOT a fiduciary duty owed by a seller's agent to the seller?
Correct Answer
C) Neutrality — treating the buyer and seller with equal fairness in all negotiations
Neutrality is NOT a fiduciary duty owed by a seller's agent to the seller. In fact, neutrality is the opposite of what a seller's agent is required to do. A seller's agent owes the duty of loyalty, which means the agent must advocate for the seller's interests—not treat both parties equally. Neutrality is a characteristic of transaction brokerage (non-agency), not of a seller agency relationship.
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Related Topics & Key Terms
Key Terms:
Related Concepts
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
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