Agency
Under Vermont law, a buyer's agent owes which duty to the seller?
ALoyalty and confidentiality
BHonest dealing and disclosure of material facts affecting the property✓ Correct
CFull fiduciary duties including advocacy
DNo duties whatsoever
Explanation
While a buyer's agent owes full fiduciary duties to the buyer, they still owe the seller honest and fair dealing and must disclose material facts. A buyer's agent does not have to advocate for the seller's interests.
Related Vermont Agency Questions
- A Vermont buyer's agent who also represents the seller in the same transaction must:
- Vermont's 'limited service listing agreement' allows a broker to:
- Under Vermont law, which of the following is an example of an implied agency?
- An agency relationship terminates automatically when:
- 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'?
- Vermont's agency disclosure requirement protects consumers by:
- Vermont's 'apparent authority' in real estate agency means that:
- The concept of 'agency by ratification' in Vermont means:
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