Agency (alternative)
In Maryland, a designated agent owes fiduciary duties to:
AThe brokerage firm only
BBoth the buyer and seller equally
CThe specific client to whom the agent is designated✓ Correct
DAll clients of the brokerage
Explanation
A designated agent in Maryland owes fiduciary duties exclusively to the specific client to whom the broker has designated them, not to all clients of the brokerage.
Related Maryland Agency (alternative) Questions
- The Maryland Disclosure of Agency form must be provided to prospective buyers and sellers:
- A Maryland buyer is working with a buyer's agent but also contacts the listing agent directly. The listing agent should:
- In Maryland, the term 'procuring cause' determines which agent is entitled to a commission when:
- Under Maryland agency law, an agent's duty of 'accounting' requires the agent to:
- A Maryland listing agent who learns the seller's minimum acceptable price must:
- A Maryland sub-agent of the seller discovers during a showing that the buyer is planning to demolish the home and build a larger one. The sub-agent should:
- A Maryland buyer's agent who misrepresents to a seller that their buyer has financing in place when they have not yet applied for a mortgage has:
- In Maryland, an agent represents the seller. A buyer's agent submits an offer with unusual contingencies. The listing agent's duty is to:
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