Agency
In Michigan, the term 'fiduciary' in real estate means the agent has a duty of:
AMaximizing the broker's commission
BTrust and confidence, placing the client's interests above the agent's own✓ Correct
CDisclosing all market conditions to the public
DMaintaining neutrality between buyer and seller
Explanation
A fiduciary is someone who holds a position of trust and confidence. In real estate, a fiduciary agent must place the client's interests above their own personal interests.
Related Michigan Agency Questions
- A Michigan real estate agent who represents a buyer must present which of the following to the seller?
- In Michigan, 'apparent authority' of an agent occurs when:
- In Michigan, a real estate licensee acting as a transaction coordinator (facilitator) owes which duty?
- A Michigan seller's agent is obligated to present all offers to the seller:
- In Michigan, a real estate broker who also represents themselves as both buyer and seller in a transaction must:
- A Michigan designated agency arrangement means:
- The REALTOR Code of Ethics' duty to present a 'true picture' in advertising relates to which principle?
- An 'open listing' in Michigan is:
Practice More Michigan Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Michigan Quiz →