Agency
An agent's fiduciary duty of loyalty requires:
ADisclosing all offers to competing buyers
BPlacing the client's interests above those of the agent and all other parties✓ Correct
CProviding equal service to all parties in a transaction
DSharing confidential client information with the cooperating broker
Explanation
The fiduciary duty of loyalty requires the agent to place the client's interests above all others, including the agent's own interests, throughout the entire agency relationship.
People Also Study
Related Michigan Questions
- The duty of accounting in a Michigan agency relationship requires the agent to:Agency
- Michigan law requires that a disclosure of agency relationship be provided to consumers:Agency
- The duty of obedience in a Michigan agency relationship means the agent must:Agency
- The duty of disclosure to a client in Michigan requires an agent to disclose:Agency
Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
Study This Topic
Practice More Michigan Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Michigan Quiz →