Agency
Which of the following best describes a buyer's agent in Michigan?
AAn agent who assists buyers without any fiduciary duty
BA licensee who owes fiduciary duties to the buyer and works in the buyer's best interest✓ Correct
CA transaction coordinator who represents neither party
DA sub-agent of the seller's broker
Explanation
A buyer's agent in Michigan owes full fiduciary duties to the buyer, including loyalty, disclosure, confidentiality, obedience, and reasonable care.
Related Michigan Agency Questions
- Dual agency in Michigan requires:
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- A Michigan buyer's agent who knows that the seller is in financial distress should:
- The REALTOR Code of Ethics' duty to present a 'true picture' in advertising relates to which principle?
- If a Michigan buyer's agent learns that their buyer-client is willing to pay significantly more for a property, the agent should:
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