Agency
Which action would constitute a breach of fiduciary duty by a listing agent?
APresenting all offers to the seller
BDisclosing the seller's minimum acceptable price to the buyer without authorization✓ Correct
CAdvising the seller to price the home competitively
DNegotiating on behalf of the seller
Explanation
Disclosing the seller's confidential minimum acceptable price to the buyer without the seller's authorization is a breach of the agent's fiduciary duty of confidentiality and loyalty.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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.
AgencyA 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.
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