Agency
A licensee working as a transaction facilitator in Alabama owes the parties:
AFull fiduciary duties to both
BA duty of honest dealing, reasonable care, and accounting, but not the full fiduciary duties of a single agent✓ Correct
CNo duties beyond legal compliance
DDuties only to the buyer
Explanation
A transaction facilitator owes both parties honest dealing, reasonable care, and proper accounting of funds, but does not owe the full fiduciary duties such as loyalty and confidentiality.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
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