Agent Sandra is acting as a dual agent in a Connecticut residential transaction with the written consent of both parties. During negotiations, the seller asks Sandra to reveal the highest price the buyer would be willing to pay. What is Sandra's proper course of action under Connecticut dual agency rules?
Correct Answer
B) Refuse to disclose the buyer's confidential financial information to the seller
Even when acting as a dual agent with written consent from both parties, a Connecticut licensee retains the duty to keep each party's confidential information confidential. The buyer's maximum willingness to pay is confidential financial information that Sandra may not disclose to the seller. Dual agency limits the licensee's advocacy role but does not eliminate the duty of confidentiality owed to each client.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.
An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.
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