When a NC buyer's agent presents an offer on behalf of their buyer, they are fulfilling which fiduciary duty?
Why Obedience and diligence — carrying out the client's lawful instructions promptly Is Correct
Answer B: Obedience and diligence — carrying out the client's lawful instructions promptly
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
Key Agency Terms in This Question
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
People Also Study
Related North Carolina Questions
- If a NC broker accepts an offer on behalf of the seller but does not promptly notify the seller, this violates the fiduciary duty of:North Carolina License Law
- A NC agent who advises their buyer client to offer a lower price because the seller needs to sell quickly — using seller motivation information the agent gained as a transaction facilitator — has violated the duty of:Agency
- An agent who discloses their client's minimum acceptable price to the other party without authorization has violated the duty of:Agency
- A NC buyer's agent has a duty to present all offers to the seller's agent promptly. This duty reflects the fiduciary duty of:Agency
- A NC seller who receives an offer during the due diligence period with a contingency to sell their current home is encountering which type of provision?Contracts
- A buyer's agent in NC owes which of the following fiduciary duties to their buyer client?Agency
Key Terms to Know
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
LienA 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.
Study This Topic
Practice More North Carolina Real Estate Questions
1,400+ questions covering all exam topics. Start free — no signup required.
Take the Free North Carolina Quiz →