Agency
In Iowa, a seller who discovers their listing agent failed to disclose a material defect to a buyer may:
ATake no action because the agent is licensed
BFile a complaint with the Iowa Real Estate Commission and pursue civil remedies against the agent✓ Correct
COnly seek recourse through the MLS
DForce the agent to pay the entire commission back
Explanation
A seller who is harmed by their agent's failure to disclose material defects (which can expose the seller to liability) may file a complaint with the Iowa Real Estate Commission and/or pursue civil remedies against the agent for breach of fiduciary duty.
Related Iowa Agency Questions
- In Iowa, if a buyer's offer is rejected by the seller, the seller's agent must:
- Under Iowa law, a seller's agent who discovers a material defect not disclosed by the seller has a duty to:
- Under Iowa law, a subagent who assists a buyer may owe fiduciary duties to:
- A seller instructs their Iowa listing agent to tell buyers there are no foundation problems, even though the agent knows there are cracks. The agent should:
- Under Iowa law, which of the following is a disclosed dual agency situation?
- In Iowa, a transaction broker (non-agent facilitator) owes duties to clients that include:
- An agent who represents a buyer discovers the property has a cracked foundation that is not visible. The agent's duty to disclose this defect to the buyer is:
- Iowa law requires the agency disclosure be provided to consumers at first substantive contact. 'Substantive contact' typically means:
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