Agent Lopez represents seller Garcia as a single agent. During negotiations, Lopez learns that the buyer is being transferred by his company and must close within 30 days or lose the opportunity. Garcia's property has been on the market for 8 months. How should Lopez use this information?
Correct Answer
D) Tell Garcia about the buyer's timeline pressure
As Garcia's single agent, Lopez must share all material information that could benefit his client's negotiating position, including the buyer's time constraints. This allows Garcia to make informed decisions. Option A incorrectly suggests neutrality in a single agent relationship. Options B and C are conclusions rather than facts, and Lopez should provide information, not specific negotiating advice.
Why This Is the Correct Answer
As Garcia's single agent, Lopez must share all material information that could benefit his client's negotiating position, including the buyer's time constraints. This allows Garcia to make informed decisions. Option A incorrectly suggests neutrality in a single agent relationship. Options B and C are conclusions rather than facts, and Lopez should provide information, not specific negotiating advice.
Why the Other Options Are Wrong
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Related Topics & Key Terms
Key Terms:
Related Concepts
Flood zone disclosure requires informing buyers whether a property is located in a designated flood zone as mapped by FEMA. Properties in high-risk flood zones may require mandatory flood insurance.
HOA disclosure requires informing buyers about the existence, rules, fees, financial health, and restrictions of a homeowners association governing the property. This information helps buyers understand their obligations before purchase.
The Lead-Based Paint Disclosure is a federally mandated disclosure required for all residential properties built before 1978. Sellers and landlords must disclose known lead-based paint hazards and provide the EPA pamphlet "Protect Your Family From Lead in Your Home."
More Authorized Relationships Disclosures Questions
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Broker Chen represents buyer Park as a single agent. Park finds a property he likes, but Chen discovers the property has a lien that the seller hasn't disclosed. The seller's agent is unaware of the lien. What should Chen do?
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When a Florida real estate licensee acts as a single agent, the licensee's primary obligation is to: