Agency
A buyer's agent in South Dakota owes which duty to the seller?
AFull disclosure of all buyer financial information
BHonesty and disclosure of known material facts✓ Correct
CLoyalty and confidentiality
DBest efforts to negotiate the lowest possible price
Explanation
Even though a buyer's agent represents the buyer, they still owe the seller honesty and must disclose known material facts. They do not owe the seller fiduciary duties such as loyalty or confidentiality.
Related South Dakota Agency Questions
- In South Dakota, what is the primary difference between an agent and an independent contractor?
- When a South Dakota real estate agent performs a Comparative Market Analysis (CMA) for a seller, this is:
- An agent who reveals a buyer's maximum price to the seller without authorization has violated which fiduciary duty?
- In South Dakota, a real estate agent who receives compensation from both the buyer and seller in the same transaction:
- When a South Dakota real estate transaction falls through due to a buyer's failure to obtain financing, the listing agent's obligation to the seller includes:
- A South Dakota seller instructs their agent not to disclose that the basement floods every spring. The agent should:
- In South Dakota, an agent who is asked to hold earnest money but deposits it in their personal account is violating which duty?
- When a South Dakota buyer's agent calls the listing agent for information about the seller's motivation to sell, the listing agent should:
Practice More South Dakota Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free South Dakota Quiz →