New York Real Estate Salesperson ExaminationNew York State Specific Laws and RegulationsMedium
A real estate salesperson in New York is representing a seller. The salesperson accidentally leaves the keys to the listed property in an unlocked mailbox after a showing. This action could be considered a violation of which fiduciary duty?
- AObedience
- BLoyalty
- CConfidentiality
- DReasonable Care and Diligence
Show answer & explanationAnswer & explanation
Correct answer: D. Reasonable Care and Diligence
Leaving property keys in an unsecured location demonstrates a lack of carefulness and attention to detail, which directly violates the fiduciary duty of reasonable care and diligence owed to the client.
Why the other options are wrong
- A. Obedience involves following lawful instructions from the client, which isn't directly related to this specific oversight.
- B. Loyalty pertains to acting in the client's best interest, not necessarily physical security oversights.
- C. Confidentiality relates to protecting private client information, not the physical security of the property.
Duty of Reasonable Care and Diligence
A fiduciary duty requiring a real estate agent to use skill, care, and prudence in all aspects of the agency relationship, including protecting the client's property.
- Requires prudent and careful actions
- Includes safeguarding property access
- Avoids negligence or accidental harm to client's interests
Memory trick: OLD CAR is how agents protect clients, 'D' for Diligence, like careful driving.