Agency
In NC, a seller who is misled by their listing agent into accepting a lower offer than the property was worth may have a claim against the agent for breach of:
ARESPA
BFiduciary duty — specifically the duty of loyalty and care✓ Correct
CThe NC Deceptive Trade Practices Act only
DThe NC Rental Agreements Act
Explanation
An agent who causes their client to accept a less favorable deal through negligence or self-interest breaches the fiduciary duties of loyalty, care, and obedience owed to the client.
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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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
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.
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