A California dual agent receives a counteroffer from the seller. The seller tells the dual agent, "Don't let the buyer know that I'll go even lower if they push back." Under California Civil Code §2079.21, what should the dual agent do?
Correct Answer
B) Honor the seller's request and keep the seller's willingness to go lower confidential from the buyer
Under California Civil Code §2079.21, a dual agent shall not disclose to the buyer that the seller is willing to sell at a price less than the listing price or the current counteroffer price without the seller's express written consent. The seller's willingness to accept a lower price is confidential negotiation information that the dual agent must protect.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The highest legal obligation of trust and confidence owed by an agent to their principal, requiring the agent to act solely in the principal's best interest.
An agency relationship where the agent agrees to act on behalf of the principal without receiving compensation.
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
More Laws Of Agency Fiduciary Duties Questions
A property sold for $450,000. The commission rate was 6%. If the listing broker received 60% of the total commission, how much did the listing broker receive?
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A broker who simultaneously represents the best interests of both opposing parties in a transaction is known as a(n):
- → When showing a listed residential property of one to four dwelling units to potential buyers, the listing broker is required to disclose:
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- → A broker receives a full price offer on a house they are listing. Before they present the offer to the seller, another broker brings in an all cash offer for $5,000 less. The listing broker is to:
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