Buyer's agent has no fiduciary duty to customer
Applied in 2 court decisions — leading case Saiz v. Horn (2003)
Most recently applied in Remington v. Iverson (January 2025)
Source: SL 1998, ch 229, § 15.
No licensee acting as a buyer's or tenant's agent owes any fiduciary duty or obligation to a customer. A licensee shall provide disclosure of all adverse material facts known by the licensee to any customer.
No buyer's or tenant's agent owes any duty to conduct an independent investigation of the client's financial condition.
Official source: South Dakota Legislature. Reproduced from public-domain South Dakota statutes; confirm against the official source for the current text. Not legal advice.