Which of the following is NOT a fiduciary duty owed by a Mississippi real estate licensee to their client?
Correct Answer
C) Guaranteeing the sale of the property
Guaranteeing the sale of a property is never a fiduciary duty and is actually prohibited misrepresentation. The recognized fiduciary duties owed to a client include loyalty, confidentiality, obedience, disclosure, accounting, and reasonable care — but no licensee can lawfully guarantee a sale.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
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.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
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