A buyer's agent must keep confidential:
Correct Answer
B) Buyer's financial situation and motivation
Financial information and motivation are confidential.
Why This Is the Correct Answer
Why the Other Options Are Wrong
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.
A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.
More Agency Questions
Under agency law in Nevada, dual agency is:
Under South Dakota license law, which type of agency relationship exists when a broker represents only the seller in a real estate transaction?
Oregon broker Olivia is working with buyer couple Derek and Sarah. During their first meeting, Derek and Sarah ask Olivia who she represents in the transaction. Under Oregon law, when is Olivia required to provide a written agency disclosure to Derek and Sarah?
Missouri continuing education (CE) requirements for license renewal include:
Kentucky requires how many hours of pre-license education?
- → How is implied agency most commonly created?
- → Under current Illinois agency law, which of the following statements is NOT accurate?
- → Information about the lowest price a seller will accept is:
- → New Jersey continuing education requirements include:
- → Virginia continuing education requirements for salespersons include:
- → Kansas recognizes which agency relationships?
- → An exam-prep coach in Mooresville is sorting out a file issue involving WWREA at first substantial contact. Which statement best applies under current North Carolina law?
- → Maryland real estate licensees are regulated by the:
- → NM listing agreements must include:
- → Broker Jameson operates a large brokerage in Flint, Michigan. He has established a designated agency policy in his office. Salesperson Keisha represents buyer Donna, and salesperson Liam represents seller Frank, on the same property transaction. Broker Jameson is not personally involved in showing the property or drafting the offer. Which statement BEST describes Jameson's agency status in this transaction under Michigan law?
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Previous Question
A buyer's agent in Utah learns confidential information about the buyer's maximum price willingness. The buyer's agent later enters a limited agency arrangement where the same brokerage also represents the seller. Can the agent share the buyer's maximum price with the seller?
Next Question
A disclosed limited agent in Oregon: