Agency
What is the duty of 'reasonable care and diligence' in a Delaware agency relationship?
AThe agent must guarantee the transaction will close
BThe agent must apply their professional knowledge and skills to serve the client's best interests✓ Correct
CThe agent must perform daily inspections of listed properties
DThe agent must conduct a title search on every listing
Explanation
The duty of reasonable care and diligence requires the agent to apply their professional knowledge, skills, and competence in the client's service — including staying current on market conditions, contracts, and relevant laws.
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Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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.
State-Specific Concepts
Continuing Education
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