Which of the following is NOT a fiduciary duty owed by a licensee to their client?
Correct Answer
C) Guaranteeing the sale
Guaranteeing the sale is never a fiduciary duty — in fact, a licensee cannot legally guarantee that a property will sell. Recognized fiduciary duties in Idaho include loyalty, confidentiality, disclosure, obedience, reasonable care, and accounting. Promising a guaranteed sale could constitute misrepresentation.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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