Which duty does a West Virginia real estate agent owe to ALL parties, not just their client?
Correct Answer
C) Honesty and fair dealing
Honesty and fair dealing are owed to all parties in a transaction — clients and customers alike. Fiduciary duties like loyalty, obedience, and confidentiality are owed only to the agent's client.
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Related Topics & Key Terms
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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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