California Real Estate Practice Exam

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Study for the California Real Estate Exam. Engage with multiple choice questions and detailed explanations to sharpen your knowledge. Get ready to ace your real estate career!

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Who owes fiduciary responsibility to the buyer?

  1. The buyer's agent

  2. The seller's agent

  3. The broker

  4. The seller

The correct answer is: The buyer's agent

The buyer's agent owes fiduciary responsibility to the buyer because they have a signed agreement with the buyer to represent their best interests in the real estate transaction. This includes acting in good faith, providing full disclosure of information, and remaining loyal to the buyer's needs. Option B, the seller's agent, has a fiduciary responsibility to the seller and may not always have the buyer's best interests in mind. Option C, the broker, has a fiduciary responsibility to the agent and not directly to the buyer, although they are responsible for ensuring all agents under their supervision uphold their fiduciary duties to their clients. Option D, the seller, does not have a fiduciary responsibility to the buyer as they are on the opposite side of the transaction.

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