All of the following are traditional fiduciary duties owed by an agent to a client EXCEPT
Correct Answer
C) Puffing
Loyalty, confidentiality, and accountability are fiduciary duties. Puffing is only sales talk or opinion.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
More General Principles Of Agency Questions
A listing agreement creates an agency relationship between:
A property management agreement between an owner and a property manager typically specifies which of the following?
What is 'designated agency' in the context of a real estate brokerage?
A real estate team receives a referral from a past client. The team leader assigns the referral to a team member. The team member shows the buyer several properties. Who is the buyer's agent?
A buyer's agent compensation can be structured as:
- → A commercial tenant is negotiating a five-year lease for retail space. The tenant hires a tenant representative broker to negotiate lease terms on the tenant's behalf. What agency relationship exists between the tenant and the tenant representative?
- → A property manager signs a lease on behalf of the property owner. The management agreement authorizes the manager to execute leases for terms up to one year. The manager signs a three-year lease with a commercial tenant. What is the likely consequence?
- → A property manager discovers that a rental unit has a significant mold problem. The manager repairs the visible mold but does not inform the property owner about the extent of the damage or the potential liability. Has the property manager violated any agency duty?
- → The minimum requirement for real estate professional advertising is:
- → Extravagant sales claims to attract buyers represent:
- → Licensed agents must ensure:
- → Real estate commissions are typically based on:
- → The document defining the broker-seller relationship is:
- → An agent with complete legal authority to act for a principal in all matters is a:
- → Under the new rules, how can a buyer's agent be compensated?
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Previous Question
A seller signs a listing agreement and instructs her agent in writing to accept only offers above $450,000 and to reject any offer that contains a financing contingency. Mid-listing, a $440,000 cash offer arrives. The agent personally believes the cash offer is excellent and unlikely to be matched, but she must follow her client's lawful written directive. She presents the offer to the seller — as she is required to do — but she does not accept it on the seller's behalf. Which fiduciary duty required her to comply with the seller's specific instructions rather than substitute her own judgment?
Next Question
Which of the following is NOT a lawful extension of the duty of obedience?