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