A real estate agent discovers that a property they are listing has a history of flooding that the seller has not disclosed. What should the agent do?
Correct Answer
D) Advise the seller to disclose, and withdraw if they won't
While agents owe loyalty to their clients, they cannot assist in fraudulent misrepresentation. The agent must advise the seller to disclose material facts and may need to withdraw from the representation if the seller refuses to comply with disclosure obligations.
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A listing brokerage represents the seller, and a competing offer arrives from a buyer who is also a client of the same brokerage. Neither client has a designated representation agreement. What disclosure and consent requirements must be met?
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A real estate agent discovers that a property they are listing has a leaky basement that the seller has not disclosed. What should the agent do?