Agency
An agent who purchases their own listing without full disclosure to the seller is engaging in:
APermitted self-dealing under broker supervision
BA conflict of interest requiring full written disclosure to and consent of the seller✓ Correct
CAn automatic violation requiring license revocation
DAcceptable conduct in buyer's market conditions
Explanation
When an agent or broker wants to purchase a property they have listed (or are otherwise representing), they must provide full written disclosure to the seller and obtain informed consent before proceeding. Failure to do so is a serious breach of fiduciary duty.
Related Rhode Island Agency Questions
- In Rhode Island, what is the 'duty to account' owed by an agent to their principal?
- A Rhode Island buyer's agent discovers that the seller has failed to disclose a basement flooding issue. What is the agent's primary obligation?
- In Rhode Island, the agency disclosure form must be provided to a prospective buyer or seller:
- A Rhode Island licensee who wants to purchase a property listed by their own broker must:
- A Rhode Island agent has a client relationship with a buyer and is showing a property listed by the same agent's broker. This creates:
- In a subagency relationship, the cooperating broker who brings a buyer to a listed property owes fiduciary duties to:
- A listing agreement is a contract between:
- A net listing is one in which the broker's commission is:
Practice More Rhode Island Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Rhode Island Quiz →