Agency
In Iowa, a seller's agent who represents the seller receives an offer from an unrepresented buyer. The agent owes the buyer:
AFull fiduciary duties
BFair and honest treatment and disclosure of material facts, but not advocacy✓ Correct
CNo duties at all
DThe same duties as a buyer's agent
Explanation
A seller's agent owes honesty, fair dealing, and disclosure of material facts to all parties, including unrepresented buyers, but their fiduciary duty (loyalty, confidentiality, advocacy) runs to the seller.
Related Iowa Agency Questions
- Iowa's principal-agent relationship in real estate is characterized by all of the following EXCEPT:
- An Iowa licensee who is representing a buyer asks the seller's agent 'What is the lowest price your seller will accept?' The seller's agent:
- Iowa's broker who supervises a salesperson is held responsible for the salesperson's actions performed:
- An Iowa seller tells their agent they are willing to accept $270,000 but listed at $285,000. The agent may:
- In Iowa, when a seller's agent shows the buyer a home and the buyer asks the agent what the seller will accept, the agent should:
- Iowa law requires the agency disclosure be provided to consumers at first substantive contact. 'Substantive contact' typically means:
- In Iowa, which document must be provided to a buyer at first substantive contact with a buyer's agent?
- A seller tells their Iowa agent that the basement floods every spring. The agent must:
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