Which duty does a South Dakota agent owe to ALL parties in a transaction, regardless of whom they represent?
Correct Answer
C) Honesty and fair dealing
While fiduciary duties like loyalty, confidentiality, and obedience are owed only to the agent's client, the duty of honesty and fair dealing is owed to ALL parties in a transaction, including customers (non-represented parties).
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
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.
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.
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