Agency
An Indiana sub-agent owes fiduciary duties to:
AThe buyer they are working with
BThe seller as principal, through the listing broker✓ Correct
CBoth buyer and seller equally
DNeither party
Explanation
In a sub-agency relationship, the cooperating broker acts as a sub-agent of the listing broker and owes fiduciary duties to the seller. The buyer they work with is treated as a customer, not a client.
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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.
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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
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