Real Estate Exam [National] 57, Subagency and Client vs Customer Explained

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. This episode covers content for the National Real Estate Exam. In this episode you will learn: • The critical legal distinctions between a client (principal) and a customer (third party). • How to apply the OLD CAR mnemonic to remember the six fiduciary duties owed to clients. • The definition of subagency and how it creates a loyalty obligation to the seller even when working with buyers. • Common exam traps regarding confidentiality and the disclosure of material facts to customers. • Why all salespersons are technically subagents of their sponsoring broker in the eyes of the law. 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