Episode 28: Mastering OLDCAR - Your 6 Core Duties For Real Estate Agency
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Episode 28: Mastering OLDCAR - Your 6 Core Duties For Real Estate Agency
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Every real estate professional must understand their fiduciary responsibilities, but memorizing abstract legal duties won't cut it on exam day. This practical episode uses the powerful OLDCAR mnemonic to cement the six fundamental duties agents owe their clients—transforming complex agency law into an unforgettable framework.
We'll explore:
- Obedience: following lawful instructions while recognizing illegal requests
- Loyalty: putting client interests first and avoiding conflicts of interest
- Disclosure: what information must be shared and when silence becomes liability
- Confidentiality: protecting client secrets even after transactions close
- Accounting: handling client funds and documenting every financial detail
- Reasonable care: the professional standard of skill and diligence expected
This episode transforms OLDCAR from a simple acronym into a decision-making compass that guides every client interaction—knowledge that's indispensable for acing agency questions and building a career rooted in professionalism and trust.
For more real estate exam preparation, visit us at https://www.realestateexamscholar.com.
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