Agency
Which of the following best summarizes the six fiduciary duties a Vermont agent owes their client, often remembered by the acronym 'COAL DR' or 'OLDCAR'?
AContract, Offer, Accept, List, Disclose, Record
BObedience, Loyalty, Disclosure, Confidentiality, Accounting, Reasonable Care✓ Correct
COpen houses, Listings, Documents, Commissions, Advertising, Records
DOffers, Leads, Deals, Closings, Advertising, Renewals
Explanation
Vermont real estate agents owe their clients six fiduciary duties (OLDCAR): Obedience (follow lawful instructions), Loyalty (client's interests above all), Disclosure (share material facts), Confidentiality (protect client information), Accounting (safeguard client funds), and Reasonable Care (exercise professional competence). These duties define the agency relationship.
Related Vermont Agency Questions
- Under Vermont law, a buyer's agent owes which duty to the seller?
- Vermont's 'undivided loyalty' duty in a buyer's agency means the agent must:
- Vermont's VREC requires that agency disclosure be provided:
- When a Vermont listing broker receives an offer significantly below the asking price, the broker must:
- Vermont requires a licensee to provide agency disclosure to a consumer:
- A Vermont buyer's agent secures a property for their buyer client. After closing, the agent receives a gift from the seller as a thank-you. The agent should:
- In a transaction where both the buyer and seller are represented by agents from the same brokerage, the brokerage is considered to be:
- If a Vermont real estate agent is representing a buyer and the buyer discloses their maximum purchase price, the agent should:
Practice More Vermont Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Vermont Quiz →