Agency
A real estate agent who purchases a listed property for themselves without disclosing their licensee status to the seller has violated their duty of:
AObedience
BDisclosure✓ Correct
CAccounting
DReasonable care
Explanation
Montana licensees must disclose their licensed status when purchasing property for their own account. Failure to do so violates the duty of disclosure and may constitute fraud.
People Also Study
Related Montana Questions
- A Montana real estate licensee who accepts a referral fee from a home warranty company without disclosing it to their client has:Montana License Law
- A Montana real estate licensee who is also an investor purchasing properties for their own portfolio must disclose to the seller:Montana License Law
- In Montana, a real estate licensee who acts as the principal (buyer or seller) in a real estate transaction must fully disclose their licensee status because:Montana License Law
- Under Montana agency law, an agent owes the duty of confidentiality to their client. This means the agent must NOT disclose:Agency
- A Montana buyer's agent has a duty of 'full disclosure.' This means the agent must disclose to the buyer:Agency
- Under Montana law, a real estate licensee must disclose to all parties in a transaction that they are a licensed real estate agent when they are buying or selling property for:Montana License Law
- A listing agent who tells a prospective buyer that the seller will accept $10,000 less than the list price without the seller's permission has violated the duty of:Agency
- A Montana licensee working with a buyer in a transaction where their firm also holds the listing must:Agency
Key Terms to Know
Agency
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
Study This Topic
Practice More Montana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Montana Quiz →