A buyer's agent researches comparable sales, reviews the seller's disclosure form, and advises the buyer on an appropriate offer price. Which fiduciary duty does this diligent research demonstrate?
Correct Answer
A) Reasonable care
Reasonable care is correct because the agent is using competence, diligence, and skill in serving the client by researching comparables and analyzing data.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
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A listing agreement creates an agency relationship between:
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