Agency
The fiduciary duty of 'reasonable care' in a South Dakota agency relationship requires the agent to:
AGuarantee the success of the transaction
BUse the knowledge, skills, and diligence expected of a competent real estate professional✓ Correct
CProvide legal and financial advice to the client
DComplete all transactions within 30 days
Explanation
The fiduciary duty of reasonable care requires the agent to apply the knowledge, skills, and diligence that a competent real estate professional would use in similar circumstances. It does not require perfection but does require competence and diligence.
Related South Dakota Agency Questions
- In South Dakota, a real estate agent must present all offers to the seller regardless of form. However, the agent may decline to present a written offer that is:
- In South Dakota, the real estate agent's fiduciary duty of 'disclosure' requires the agent to inform their client of:
- In South Dakota, a real estate agent who represents neither the buyer nor the seller but assists both parties complete a transaction is sometimes called a:
- In South Dakota, a listing agent who receives multiple offers on a property should:
- In South Dakota, an agent who helps a buyer negotiate a purchase and also refers the buyer to a specific mortgage lender without disclosing that they will receive a referral fee has violated their duty of:
- In South Dakota, a buyer's agent who shares the buyer's maximum budget with the listing agent without authorization is:
- In South Dakota, when does a buyer's agent's authority typically terminate?
- In South Dakota, after a listing agreement expires and the property has not sold, which of the following protects the listing broker's commission if the seller sells to someone the broker introduced during the listing period?
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