Agency
In Michigan, a real estate agent's duty of loyalty to their client means:
AThe agent must always tell the seller what the buyer is willing to pay
BThe agent must place the client's interests above all others, including the agent's own financial interests✓ Correct
CThe agent must work exclusively for one client at a time
DThe agent must never work with buyers if they represent sellers
Explanation
The duty of loyalty requires the agent to act solely in the client's best interest, avoid conflicts of interest, and not allow personal financial gain to interfere with the client's interests.
Related Michigan Agency Questions
- In Michigan, a 'procuring cause' determination is important because it determines:
- Under Michigan law, an agent's implied authority arises from:
- Under Michigan law, which of the following would automatically terminate an agency relationship?
- An agent who has no agency relationship with either party but assists in completing a transaction is acting as a:
- In Michigan, an agent's duty of 'reasonable care' means the agent must:
- A Michigan real estate agent hired by a buyer is referred to as an agent with what primary obligation?
- In Michigan, ratification of an unauthorized agency act means:
- Michigan law requires that a licensee disclose their agency status to a consumer:
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