Which fiduciary duty continues after a listing expires?
Correct Answer
A) Confidentiality
Confidentiality outlives the agency: what a client told the agent in confidence stays confidential after the listing ends, which is why an agent cannot tell the next buyer what the seller would have taken. Other choices: disclosure ends with the relationship, because there is no longer a principal to inform; reasonable care is owed while the agent is acting, and the agent has stopped acting; and loyalty ends too, which is what frees the agent to represent a competing seller next week.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
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