Kansas licensee David is working with buyer Angela under a written buyer agency agreement in Salina. Angela tells David she must close by a specific date due to a lease expiration and is very motivated. Under Kansas BRRETA, what is David's obligation regarding this information?
Correct Answer
B) David must keep Angela's deadline confidential because it is information that could harm Angela's negotiating position
Under BRRETA, David is Angela's buyer's agent and owes her full fiduciary duties, including the duty of confidentiality. Angela's motivation and deadline are confidential information that, if disclosed to the seller, could harm her negotiating position by revealing her urgency. David's fiduciary duty of loyalty and confidentiality requires him to protect this information from the seller.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
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