In Maryland, the fiduciary duty of confidentiality obligates a licensee to protect certain information about the client. Which of the following pieces of information must a Maryland buyer's agent keep confidential even after the agency relationship has ended?
Correct Answer
D) The buyer's maximum willingness to pay for the property
Under Maryland agency law, the duty of confidentiality survives the termination of the agency relationship. A buyer's agent must never disclose the buyer's maximum willingness to pay, as this is confidential information that could harm the buyer's negotiating position. This duty continues even after the transaction closes or the agency relationship ends.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
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.
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