Sales Associate Taylor is designated to represent the buyer, and Sales Associate Brown is designated to represent the seller in the same transaction at XYZ Realty. Taylor learns that the buyer is willing to pay $10,000 more than the offered price. What should Taylor do?
Correct Answer
C) Keep the information confidential
Taylor must keep this confidential information about their client's negotiating position private. Sharing with the other sales associate would violate confidentiality. The broker cannot share confidential information between parties in dual agency. Disclosing in a counter-offer would breach the duty of confidentiality to the buyer.
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Related Topics & Key Terms
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Related Concepts
Radon disclosure involves informing buyers about the presence or potential presence of radon gas in a property. Radon is a naturally occurring radioactive gas that can accumulate in buildings and is the second leading cause of lung cancer.
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.
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