Agency
An agent's duty to disclose material facts applies to:
AOnly the client, not the other party
BBoth the client and the other party in a transaction✓ Correct
COnly to customers, not clients
DOnly when the agent is acting as a dual agent
Explanation
The duty to disclose material facts (such as latent defects) applies to both the agent's client and the other party in the transaction. An agent cannot conceal known material defects regardless of who they represent.
Related Iowa Agency Questions
- In Iowa, a seller's agent who represents the seller receives an offer from an unrepresented buyer. The agent owes the buyer:
- A buyer's agent in Iowa who discovers a material defect in the property during a showing must:
- Which of the following is an example of an express agency relationship?
- An exclusive right-to-sell listing guarantees the listing broker a commission if the property sells during the listing period:
- The fiduciary duty of 'obedience' requires a licensee to:
- An agent for a buyer who wants to purchase a property well below market value is ethically required to:
- When a seller's agent presents an offer to the seller, the agent's duty of loyalty requires them to:
- Iowa's seller disclosure law requires a seller to complete which document before listing a residential property?
Practice More Iowa Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Iowa Quiz →