Nevada's 'Duties Owed by a Nevada Real Estate Licensee' form explains:
Correct Answer
B) The duties a licensee owes to clients versus customers, including fiduciary duties and obligations to all parties
Nevada's 'Duties Owed by a Nevada Real Estate Licensee' form, required under NRS 645.254, explains the specific duties licensees owe to clients (fiduciary duties including loyalty, confidentiality, and full disclosure) and to customers (honesty, good faith, and fair dealing). The form must be provided to all parties at the earliest opportunity before services begin, ensuring consumers understand the nature of the licensee's obligations to each party in the transaction.
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The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
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.
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