Agency
In Mississippi, when a licensee acts as a seller's agent, the licensee owes the seller which duties?
AObedience, loyalty, disclosure, confidentiality, accounting, and reasonable care (OLDCAR)✓ Correct
BOnly honesty and fair dealing
CThe same duties owed to the buyer
DOnly duties specified in the listing agreement
Explanation
A seller's agent owes full fiduciary duties to the seller, commonly remembered as OLDCAR: Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable care.
Related Mississippi Agency Questions
- A Mississippi listing broker places a lockbox on a listed property. This authorizes which parties to access the property?
- Dual agency in Mississippi requires all of the following EXCEPT:
- A Mississippi buyer's agent accompanies the buyer to a home inspection. During the inspection, the agent learns the seller patched a foundation crack without proper repair. This information is:
- A Mississippi seller's agent who fails to disclose a known material defect to a prospective buyer may face:
- An agent who represents neither the buyer nor the seller but helps both parties complete a transaction is called a:
- A Mississippi seller's agent must disclose to a buyer any:
- A Mississippi buyer's agent who is also a licensed real estate appraiser appraises the buyer's prospective purchase. This dual role creates:
- Under Mississippi law, the duty of accounting requires an agent to:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →