Agency & LawQuestion 26 of 120
A broker who represents the seller in a transaction owes the seller fiduciary duties. The customer (buyer) in that same transaction is owed:
a.The same fiduciary duties as the seller
b.No duties whatsoever
c.Honesty, fair dealing, and disclosure of material defects
d.A duty of undivided loyalty
Explanation
Even when a broker does not represent the buyer, the law still requires honesty, fair dealing, and disclosure of known material defects to the customer. Full fiduciary duties such as loyalty and confidentiality are owed only to the client.
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