Agency
In Idaho, an agent is required to exercise 'reasonable care' which means:
AAlways achieving the best possible price
BUsing the skill and knowledge ordinarily possessed by a competent real estate agent✓ Correct
CGuaranteeing the transaction will close
DInspecting every aspect of the property personally
Explanation
The duty of reasonable care and diligence requires an agent to use the skill, knowledge, and judgment ordinarily possessed by a competent real estate professional. Failure to do so may constitute negligence.
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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.
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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
State-Specific Concepts
Continuing Education
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