A listing agent fails to present a written offer to the seller within a reasonable time, and the buyer purchases a different property. What type of liability does the listing agent face?
Correct Answer
B) Negligence
Negligence is correct because the agent failed to use the care that a reasonably prudent licensee would use by not promptly presenting the offer.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
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.
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A listing agreement creates an agency relationship between:
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