Nebraska Real Estate Salesperson Exam — All Questions
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In Nebraska, a licensee may act as a limited dual agent representing both the buyer and the seller in the same transaction only when:
- a.The transaction is a new-construction sale
- b.The purchase price exceeds a set amount
- c.The licensee first obtains a separate broker license
- d.Both parties give informed written consent✓
Nebraska allows a licensee to act as a limited dual agent representing both parties in the same transaction only with the informed written consent of both the buyer and the seller. A dual agent must treat both fairly and may not reveal one party's confidential information to the other without permission.
A Nebraska licensee who represents the seller as the seller's agent owes the other party (the buyer) at least a duty of:
- a.Full fiduciary loyalty
- b.Honesty and fair dealing, including disclosure of known material defects✓
- c.No duty of any kind
- d.Confidentiality about the seller's lowest acceptable price
A seller's agent owes full statutory duties, including loyalty and confidentiality, to the seller who is the client. To the buyer, who is not the client, the licensee still owes honesty and fair dealing and must disclose known material defects in the property.