Agency
What is the duty of 'confidentiality' owed by a Nevada listing agent to their seller client?
AThe agent must keep all property information secret, even from buyers
BThe agent must not disclose the seller's personal and financial information to others without authorization — including the seller's motivation, minimum acceptable price, or urgency to sell✓ Correct
CConfidentiality means the agent cannot market the property publicly
DConfidentiality requires the agent to keep all negotiations private from the broker
Explanation
A listing agent in Nevada owes the seller confidentiality — they must not reveal the seller's negotiating position, financial need, minimum price, or any information that would weaken the seller's bargaining power. This duty continues even after the agency relationship ends.
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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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
Math Concepts
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