Episode Details

This podcast is made by Ran Chen, who holds an EA license, Insurance and Securities licenses (Series 6, 63, 65), and the CFP® designation. He is passionate about opening access to high-quality exam preparation resources and helping learners prepare more effectively for professional certification exams. In this episode you will learn: - In Texas, a single agency relationship means an agent owes fiduciary duties, remembered by the acronym OLDCAR, exclusively to their client (either the seller or the buyer). - The duties owed to a customer (the other party) are limited to honesty, fairness, and the disclosure of all known material facts about the property. - Subagency is not the default relationship in Texas; an agent working with a buyer is expected to represent the buyer, which must be formalized in writing. - Agency relationships are created by express written agreements, and a written agreement is required in Texas before a residential buyer can be shown property. - A common exam trap is confusing the duty of confidentiality to a client (e.g., their financial motivation) with the mandatory duty to disclose material property defects to a customer. For more free exam prep tools, practice questions, and AI-powered explanations, visit https://open-exam-prep.com/ or YouTube Channel: https://www.youtube.com/@Open-exam-prep