Under Michigan law, a real estate salesperson owes fiduciary duties to the client. Which of the following best describes the duty of confidentiality as it applies to a seller's agent in Michigan?
Correct Answer
C) Keeping the seller's motivations, financial situation, and negotiating position private from third parties
Confidentiality requires the licensee to protect sensitive client information — including the seller's motivation to sell, financial pressures, and bottom-line price — from being revealed to buyers or other parties without authorization. This duty survives the termination of the agency relationship under Michigan agency law.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
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