Agency
In West Virginia, a subagent owes fiduciary duties to:
AThe buyer as the subagent's primary client
BThe listing broker
CThe seller as the principal✓ Correct
DBoth buyer and seller equally
Explanation
A subagent works on behalf of the listing broker and ultimately owes fiduciary duties to the seller (the principal). The subagent must act in the seller's best interest even while working with 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.
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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
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