Agency
A buyer's agent in Nebraska owes which duty to the buyer client?
ADisclosing the seller's financial motivation
BLoyalty, obedience, disclosure, confidentiality, and reasonable care✓ Correct
CEnsuring the property appraised at the purchase price
DProviding legal advice regarding the purchase contract
Explanation
A buyer's agent owes fiduciary duties to the buyer including loyalty, obedience, disclosure, confidentiality, accounting, and reasonable skill and care (often remembered as OLDCAR or similar mnemonics).
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
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