Indiana broker Priya is hosting an open house for a listed property. A visitor named Greg asks Priya detailed questions about the seller's motivation to sell and the lowest price the seller would accept. Priya has not yet provided Greg with the written agency disclosure. Which of the following best describes Priya's obligations and risks in this situation under Indiana law?
Correct Answer
B) Priya must immediately provide Greg with the written agency disclosure and, as the seller's agent, must not disclose the seller's confidential information to Greg
Under IC 25-34.1-10, Greg's questions about the seller's motivation and minimum acceptable price constitute first substantive contact, triggering the immediate obligation to provide the written agency disclosure. Simultaneously, because Priya is the seller's agent, she owes fiduciary duties to the seller — including the duty of confidentiality. Disclosing the seller's motivation or minimum price to a prospective buyer would be a breach of Priya's fiduciary duty to her client. Priya must provide the disclosure form immediately and must decline to share the seller's confidential information with Greg.
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