Question

In acting as an agent for another person, the broker carries several special responsibilities, which by law must be adhered here to throughout the transaction process. These responsibilities constitute what is commonly referred to as a:

A. Subagency relationship
B. Dual agency relationship
C. Fiduciary relationship
D. Open listing relationship

Answer 1

C. Fiduciary relationship

Explanation:

fiduciary is a person who holds a legal or ethical relationship of trust with one or more other parties (person or group of persons). Typically, a fiduciary prudently takes care of money or other assets for another person.