In Maryland, a licensee who represents only the buyer in a real estate transaction and owes fiduciary duties exclusively to that buyer is best described as which type of agent?
Correct Answer
A) Buyer's agent
A buyer's agent in Maryland is a licensee who has entered into a written buyer agency agreement and owes full fiduciary duties—including loyalty, confidentiality, disclosure, obedience, and accounting—exclusively to the buyer. This relationship is governed by Md. Code Ann., Bus. Occ. & Prof. §§ 17-530 et seq.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
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