Agency
In New York, a real estate agent's 'duty of care' to their client means the agent must:
APerform only the tasks explicitly listed in the listing or buyer's agency agreement
BExercise the degree of care, skill, and diligence that a reasonably competent real estate professional would exercise under the circumstances✓ Correct
CGuarantee the accuracy of all information provided to the client
DEnsure the client obtains the lowest or highest price possible
Explanation
The duty of reasonable care (or skill and diligence) in New York requires a licensee to act with the competence and diligence of a reasonably knowledgeable real estate professional. This includes accurately presenting market information, understanding relevant laws, following proper procedures, and advising clients to seek expert help (legal, environmental, structural) when the agent's knowledge is insufficient.
Related New York Agency Questions
- In New York, a seller's agent who presents an offer should also:
- A New York buyer's agent owes which of the following duties to the buyer-client?
- In New York, a licensee acting as a 'buyer's agent' for a buyer who is also a personal friend must:
- In New York, the duty of 'loyalty' owed by a buyer's agent to the buyer means that the agent:
- A New York listing agent who learns that the seller's asking price is $30,000 above what the agent believes is market value should:
- A cooperating broker who represents the buyer in a transaction where the listing is on the MLS is acting as:
- The duty of 'obedience' in a New York agency relationship requires the agent to:
- In New York, an agent who fails to present an offer to the seller because they personally believe it is too low is:
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