Agency
In Nevada, what is an agent's duty when the buyer asks whether there are any neighborhood noise issues?
AThe agent can ignore subjective questions about noise
BThe agent must honestly disclose known material facts, including any known noise issues from nearby businesses, airports, or entertainment venues that could affect the buyer's decision✓ Correct
CThe agent should only answer if noise affects the listing price
DThe agent has no knowledge duty about neighborhood conditions
Explanation
Neighborhood conditions — including proximity to McCarran International Airport (now Harry Reid), entertainment venues, industrial areas, or major roads — can be material facts in Nevada real estate. Agents must disclose known material facts affecting value or desirability, including noise.
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Key Terms to Know
Net Operating Income (NOI)
The annual income generated by an income-producing property after subtracting operating expenses, but before debt service.
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.
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.
Math Concepts
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