Agency
Under BRRETA, an agent's duty to act with 'skill, care, and diligence' requires the agent to:
AA. Guarantee the sale of the property
BB. Use the degree of skill, care, and effort that a reasonable real estate agent would apply in similar circumstances✓ Correct
CC. Obtain a perfect outcome for the client
DD. Complete the transaction regardless of obstacles
Explanation
The duty of skill, care, and diligence requires agents to perform at the level of a competent real estate professional. Agents are not required to guarantee results, but they must exercise reasonable care and professional judgment.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
State-Specific Concepts
Continuing Education
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