Agency
Under Iowa agency law, a seller's agent owes which duty to the buyer?
AFull fiduciary duty
BDuty of confidentiality
CHonest and fair dealing and disclosure of material facts✓ Correct
DDuty to negotiate the best price for the buyer
Explanation
A seller's agent owes fiduciary duties to the seller, but owes the buyer honest and fair dealing and disclosure of material facts affecting the property, even while representing the seller.
Related Iowa Agency Questions
- Which of the following is an example of an express agency relationship?
- Under Iowa law, which of the following is a disclosed dual agency situation?
- In Iowa, which party pays the real estate commission in most residential transactions?
- In Iowa, a seller's agent must present all offers to the seller UNLESS:
- A seller's agent accidentally learns that the buyer is willing to pay significantly more than the offered price. What should the agent do?
- An Iowa real estate agent who has a personal financial interest in a property they are selling to a client must:
- When does an agency relationship most commonly terminate in Iowa?
- Under Iowa law, an agent may act as a dual agent representing both the buyer and seller if:
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