Agent Rodriguez is a single agent for seller Williams. During a showing, the prospective buyer mentions he's pre-approved for $400,000 but would prefer to pay closer to $350,000 for Williams' property listed at $375,000. Williams is not present. How should Rodriguez handle this information?
Correct Answer
A) Immediately call Williams to report the buyer's financial capacity
As Williams' single agent, Rodriguez has a duty to disclose all material information that could benefit his client, including the buyer's financial capacity. This information helps Williams make informed decisions. Option B incorrectly prioritizes the buyer's interests. Option C is incomplete without first informing Williams. Option D serves the buyer's interests rather than the client's.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Fair housing laws apply to a broad range of activities related to housing, including sale, rental, financing, and advertising.
A seller's disclosure statement is a form that sellers complete to inform buyers about the condition and history of the property, including known defects, past repairs, insurance claims, and environmental issues.
Many states and localities have fair housing laws that expand upon the protections offered by the federal Fair Housing Act.
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