Agency
What is the duty of 'loyalty' owed by a Nevada real estate agent to their client?
AThe agent must never disagree with their client's decisions
BThe agent must place the client's interests above all others, including the agent's own financial interests, and avoid any action that conflicts with the client's benefit✓ Correct
CLoyalty requires the agent to work exclusively for one client at a time
DThe agent must only show the client properties listed by their own brokerage
Explanation
Loyalty is a core fiduciary duty. For Nevada listing agents, it means working diligently to achieve the seller's goals and not undermining the seller's position for personal gain.
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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.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
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.
Math Concepts
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