California DRE Salesperson Exam
Laws of Agency & Fiduciary Duties
This module covers 17% of the California DRE Salesperson exam, about 25 questions. Master agency relationships, fiduciary duties, disclosure requirements, and how agents are created and terminated.
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Drill all key agency terms and definitions. Tap to flip.
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20 questions per attempt. Covers all agency topics.
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Laws of Agency & Fiduciary Duties
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Key concepts
Fiduciary duties (COALD)
Care, Obedience, Accounting, Loyalty, and Disclosure. An agent owes all five duties to their principal.
Dual agency
When a broker represents both buyer and seller in the same transaction. Legal in California with written consent from both parties.
Agency disclosure requirement
California law requires agents to disclose their representation in writing at or before the first substantive communication.
Exclusive right to sell
The most common listing type. The broker earns commission regardless of who finds the buyer, including the seller.
Procuring cause
The agent whose uninterrupted efforts directly led to the completed sale. Determines who earns the commission in disputed situations.
Commingling
Illegally mixing client funds with personal or broker funds. A violation of DRE regulations that can result in license revocation.
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