Agency
What is a 'buyer's agent' (buyer's representative) and what duties do they owe?
AAn agent who helps buyers find homes but owes fiduciary duties only to the seller
BAn agent who represents the buyer's interests and owes fiduciary duties to the buyer✓ Correct
CAn agent paid by the buyer who works independently of any broker
DAn agent designated by the court to represent a buyer in a dispute
Explanation
A buyer's agent is a licensee who represents the buyer and owes the buyer full fiduciary duties: loyalty, confidentiality, disclosure of material facts, obedience to lawful instructions, reasonable care and diligence, and accounting.
Related California Agency Questions
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- Under California law, which document is used to confirm the agency relationship in a residential real estate transaction?
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- In California, a 'designated agency' arrangement allows a broker to:
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- A seller's agent has a fiduciary duty of loyalty. This means the agent must:
- California's agency disclosure requirements mandate that the disclosure be made to a buyer or seller:
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