Which of the following duties does a real estate agent owe to ALL parties in a transaction, including non-clients?
Correct Answer
C) Honesty — dealing fairly and truthfully with everyone involved
Under Rhode Island agency law, a licensee owes fiduciary duties — including loyalty, obedience, and confidentiality — exclusively to their client (the principal). However, the duty of honesty and fair dealing is owed to ALL parties in a transaction, including customers who are not represented by that agent.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
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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