Agency
Iowa's 'ministerial acts' that a licensee may perform for an unrepresented party without creating an agency relationship include:
ANegotiating price on behalf of the unrepresented party
BProviding factual information, scheduling showings, and preparing documents at the direction of the represented party✓ Correct
CAdvising the unrepresented party on whether to accept an offer
DRecommending mortgage lenders to the unrepresented party
Explanation
Ministerial acts are routine acts that do not involve exercising discretion or judgment on behalf of the unrepresented party. Examples include providing factual information about the property, scheduling showings, and preparing contracts at the represented party's direction.
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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.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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