Agency
The duty of 'reasonable care and diligence' requires an agent to:
AGuarantee the sale of the property within 30 days
BPerform their duties with the skill expected of a licensed professional✓ Correct
CDisclose all offers regardless of price
DAdvance funds for the client's transaction costs
Explanation
The duty of reasonable care and diligence requires agents to perform their duties with the level of skill and competence expected of a licensed real estate professional.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
State-Specific Concepts
Continuing Education
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