Agent Maria represents buyer Thompson in purchasing a waterfront home in Miami. During negotiations, the seller's agent asks Maria about Thompson's maximum budget. What should Maria do as a single agent?
Correct Answer
B) Refuse to disclose confidential information about her principal
Correct: As a single agent, Maria has a fiduciary duty to maintain confidentiality and cannot disclose her principal's confidential information without written consent. Why not A: Sharing budget information would violate the duty of confidentiality. Why not C: Even asking permission could signal the client has a higher budget. Why not D: Providing any budget information violates confidentiality duties.
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Related Topics & Key Terms
Key Terms:
Related Concepts
Death on property disclosure addresses whether sellers must inform buyers about deaths that occurred on the property, including natural deaths, suicides, and murders. Requirements vary significantly by state.
Environmental hazards disclosure involves informing buyers about environmental contamination or hazards affecting or potentially affecting a property, including underground storage tanks, contaminated soil, hazardous waste, and proximity to Superfund sites.
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.
More Authorized Relationships Disclosures Questions
Under Florida law (F.S. § 475.272 and § 475.278), which statement most accurately describes Florida's rules on brokerage relationships in a residential real estate transaction?
Consent to transition from single agent to transaction broker in Florida must be:
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- → In Florida, the disclosure of brokerage relationship must be made:
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- → In Florida, when does a licensee have a no brokerage relationship with a consumer?
- → In a Tampa transaction, a buyer wants the Florida rule on buyer-and-seller same-transaction scenarios. Which statement is correct?
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- → In a Tampa transaction, a buyer wants the Florida rule on lawful transition from single agent to transaction broker. Which statement is correct?
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Previous Question
Training example Harbor Notebook asks the question this way. In a Miami transaction, a buyer wants the Florida rule on written single-agent disclosure timing—before or at the listing/representation agreement or before showing. Which statement is correct?
Next Question
Licensee Rodriguez is working as a single agent for seller Williams on a Tampa Bay condo. When must Rodriguez provide the single agent disclosure to prospective buyers?