A licensee is working as a transaction broker for both the buyer and seller in a residential sale. The seller mentions they are willing to accept $10,000 less than the listed price, but asks the licensee not to tell the buyer. What should the transaction broker do?
Correct Answer
A) Keep the information confidential as requested by the seller
Transaction brokers must maintain confidentiality of information given by either party unless disclosure is required by law or specifically authorized. Even though they provide limited representation to both parties, confidential information remains protected. B is incorrect because fair treatment doesn't require disclosure of confidential information. C is incorrect because this situation doesn't create a conflict requiring withdrawal. D is incorrect because written authorization isn't required to maintain confidentiality.
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More Authorized Relationships Disclosures Questions
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