Question

Which of the following is a duty of limited dual agents?

Select one:
a. All of these are duties of limited dual agents
b. To help the buyer and seller reach a compromise on the price
c. To hire a lawyer to ensure that all of the closing paperwork is done correctly
d. Not to disclose the lowest price the seller will accept

Answer 1

Limited dual agents have three main duties: to act honestly and fairly, provide full disclosure, and not disclose the lowest price the seller will accept.

Step-by-step explanation:

The duty of limited dual agents

The duty of limited dual agents is to represent both the buyer and the seller in a real estate transaction while maintaining a neutral position. Limited dual agents are required to act honestly and fairly, provide full disclosure of all material information, and not disclose the lowest price the seller will accept.

However, limited dual agents are not responsible for helping the buyer and seller reach a compromise on the price or hiring a lawyer to ensure that all of the closing paperwork is done correctly.

1. Limited dual agents must act honestly and fairly to both the buyer and the seller.
2. They must provide full disclosure of all material information.
3. They are not supposed to disclose the lowest price the seller will accept.