Wisconsin Real Estate Sales Practice Exam

What duties are owed to all persons in a transaction?

1. Safeguard, subjective, objectivity, and confidentiality

2. Safeguard, honesty, objectivity, confidentiality, accurate information, reasonable skill and care, disclosure of adverse material facts

3. Honesty, accuracy, loyalty, and skill

4. Confidentiality, transparency, trust, and honesty

The correct answer is: Safeguard, honesty, objectivity, confidentiality, accurate information, reasonable skill and care, disclosure of adverse material facts

The correct answer includes a comprehensive list of duties that real estate professionals owe to all parties involved in a transaction. These duties are essential to creating a trustworthy and fair real estate transaction environment. Safeguard refers to the responsibility to protect clients' interests and property. Honesty is fundamental, as it ensures that all communications and representations made during the transaction process are truthful and reliable. Objectivity is crucial, allowing agents to provide impartial advice that promotes the best interests of all parties. Confidentiality is vital; it protects sensitive client information from being disclosed without permission. Accurate information involves providing correct data about properties, market conditions, and relevant legal requirements to all involved parties. Reasonable skill and care indicate that agents should perform their duties with a level of competence that meets professional standards. Finally, disclosure of adverse material facts is necessary to inform all parties about any issues that may negatively impact their decisions or the overall transaction. This combination of duties ensures that a real estate professional acts ethically and responsibly, facilitating a smooth and transparent transaction process for everyone involved.