Which of the following is NOT a fiduciary duty owed by a Rhode Island real estate licensee to their client?
Correct Answer
C) Guaranteeing the sale of the property
Fiduciary duties owed by a Rhode Island licensee to a client include loyalty, confidentiality, obedience, disclosure, accounting, and reasonable care. Guaranteeing a sale is never a fiduciary duty and would constitute a misrepresentation if promised.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
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.
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