Agency
Iowa's agency law requires that an agent act with 'reasonable care and diligence,' which means the agent should:
AOnly perform tasks specifically listed in the representation agreement
BExercise the knowledge, skills, and care that a competent Iowa real estate professional would exercise✓ Correct
CGuarantee results to the client
DAlways recommend the highest-priced listing for sellers
Explanation
The duty of reasonable care and diligence requires an Iowa agent to apply the knowledge, skill, and care that a competent real estate professional would use under the same or similar circumstances. This is an objective standard measured against professional norms.
Related Iowa Agency Questions
- An agent for a buyer who wants to purchase a property well below market value is ethically required to:
- In an open listing, the seller agrees to pay a commission to:
- In Iowa, which of the following BEST describes a buyer's agent?
- In Iowa, a transaction broker:
- An agent discloses to the buyer that the seller is going through a divorce and must sell quickly. This is a violation of which fiduciary duty?
- In Iowa, which document must be provided to a buyer at first substantive contact with a buyer's agent?
- An Iowa salesperson shows a buyer homes listed by other brokerages without a written buyer agency agreement. What agency relationship likely exists?
- Iowa's broker who supervises a salesperson is held responsible for the salesperson's actions performed:
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