Agency
Which duty does a Virginia buyer's agent owe exclusively to their buyer-client and NOT to the seller?
AHonest dealing
BDisclosure of material defects known to the agent
CLoyalty — acting in the buyer's best interests✓ Correct
DDisclosing the existence of other offers
Explanation
Loyalty is a fiduciary duty owed exclusively to the agent's own client. A buyer's agent owes loyalty to the buyer.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
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