Alabama licensee Greg is working with buyer Tina as a transaction broker. Tina asks Greg whether he is required to keep her financial information confidential from the seller. Under Alabama law, which statement best describes Greg's confidentiality obligation in a transaction brokerage relationship?
Correct Answer
B) Greg must keep Tina's confidential information private unless she authorizes its disclosure
Under Alabama Code §34-27-81 et seq., even in a transaction brokerage relationship, licensees retain certain obligations including the duty not to disclose confidential information provided by one party to the other party without authorization. Transaction brokerage does not eliminate all duties — it limits fiduciary duties but retains basic obligations such as honesty, confidentiality of sensitive information, and accounting for funds.
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Previous Question
During a listing presentation in Alabama, seller Rosa asks agent Ben to explain the difference between single agency and limited consensual dual agency. Ben correctly explains that in limited consensual dual agency, his fiduciary duties to Rosa would be limited compared to single agency. Which duty is MOST likely to be curtailed when Ben acts as a limited consensual dual agent?
Next Question
Under Alabama Code §34-27-81 et seq., which of the following is a permissible form of agency relationship that Alabama licensees may enter into with clients? Select the answer that is NOT a recognized form of representation under Alabama law.