Agency
What are 'OLDCAR' or 'COALD' — the fiduciary duties owed by Nevada real estate agents?
AOLDCAR stands for Open Listings Designated Cooperating Agent Reciprocity
BThe fiduciary duties are: Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable Care — memorized by Nevada students as OLDCAR or similar mnemonics to remember the full scope of agent obligations to clients✓ Correct
CCOALD is only applicable to commercial transactions in Nevada
DThese acronyms refer to Nevada insurance requirements for agents
Explanation
Nevada real estate fiduciary duties are commonly taught using OLDCAR (Obedience, Loyalty, Disclosure, Confidentiality, Accounting, Reasonable care) or COALD or similar mnemonics. Each duty is distinct: Obedience (follow lawful instructions), Loyalty (put client first), Disclosure (reveal material facts), Confidentiality (protect client's information), Accounting (handle money properly), Reasonable Care (professional competence).
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