Agency
In Tennessee, an agent who is found to have violated their fiduciary duties may be liable for:
AOnly a written reprimand
BDamages suffered by the client plus potential loss of commission✓ Correct
COnly the return of the commission
DCriminal imprisonment only
Explanation
An agent who breaches fiduciary duties may be liable for damages the client suffered as a result, may forfeit their commission, and may face TREC disciplinary action.
Related Tennessee Agency Questions
- In Tennessee, a seller's broker who shows a buyer properties listed by other firms (as a cooperating broker) represents:
- A licensee who is a 'transaction broker' in Tennessee owes which duties to the parties?
- Under Tennessee license law, a licensee acting as a facilitator (transaction broker) for both parties owes:
- In Tennessee, if a buyer's agent has actual knowledge that the seller is in financial distress and must sell quickly, the agent:
- In Tennessee, a buyer's agency agreement typically provides that the buyer's agent receives compensation:
- In Tennessee, when representing a buyer, an affiliate broker is required to:
- A Tennessee licensee who represents a buyer submitting an offer on a property listed by the same firm must disclose to the buyer that:
- When a Tennessee licensee represents a client in a short sale (where the sale price is less than the mortgage balance), the licensee has a duty to:
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