Under Oregon's Agency Relationships in Real Estate Transactions Act, which of the following duties is a licensee acting as a disclosed limited agent PERMITTED to perform for both the buyer and the seller?
Correct Answer
D) Provide honest and fair dealing and disclose material facts about the property to both parties
Under ORS 696.840, a disclosed limited agent owes both parties the duties of honest and fair dealing and disclosure of material facts about the property. These duties survive the limitation of full fiduciary representation. The disclosed limited agent cannot fully advocate for either party's price or terms and cannot disclose one party's confidential information to the other without permission.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
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.
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