Formation of an Agency Relationship | Real Estate Exam Topics Explained

Agency relationships are a key concept on the Real Estate Licensing Exam. For you to represent any party in a real estate transaction, you must establish an agency relationship. A true agency relationship has additional duties called “fiduciary duties” that are often required by law. As an agent, you can be held liable for violating these duties or not performing them as required. To help you remember them, use the acronym OLDCAR: Obedience, Loyalty, Disclosure, Confidentiality, Accounting, and Reasonable Care. Subscribe to our channel to get notified of new videos! Serious about passing your real estate exam? Sign up with PrepAgent to get more videos, thousands of interactive exam questions with explanations, 5x a week live webinars, and so much more! Use this link to get 25% off: https://www.prepagent.com/sign-up?cod... Follow us on social media:   / prepagent     / prep_agent     / prep_agent   Join our free private Facebook group to get help from others taking the exam:   / prepagent