Agency
A Wisconsin buyer's agent owes their client 'reasonable care.' This means the agent must:
AGuarantee the property has no defects
BApply the skill and diligence of a competent real estate professional in representing the client✓ Correct
CResearch every public record about the property independently
DProvide legal advice about the transaction
Explanation
The duty of reasonable care requires an agent to act with the skill, care, and diligence of a competent real estate professional. It does not extend to legal advice or guaranteeing property condition.
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Key Terms to Know
Buyer's Agent
A 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.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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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