Agency
What does 'reasonable care and diligence' require of a Hawaii listing agent?
AA. Only using licensed contractors for repairs on listed properties
BB. Using the skill, care, and diligence of a competent real estate professional to serve the client's interests✓ Correct
CC. Showing the property at least twice per week
DD. Conducting an open house every weekend the property is listed
Explanation
Reasonable care and diligence requires the agent to exercise the skill, care, and knowledge of a competent professional. This includes accurately pricing properties, properly marketing listings, advising clients of market conditions, and promptly communicating all relevant information.
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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.
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.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
State-Specific Concepts
Continuing Education
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