The buyer's agent learns that the seller is willing to accept less than list price and promptly tells the buyer. Which fiduciary duty is involved?
Correct Answer
D) Disclosure
Disclosure is correct because the facts match the fiduciary duty to promptly share material information with the client when the information could affect the client's decisions. That is the best description of the relationship, right, or legal concept tested here.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.
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Previous Question
A broker could earn a higher commission by steering the client to a different property, but instead recommends the property that best serves the client's goals. Which fiduciary duty is being honored?
Next Question
A listing agent learns the seller would accept much less than the asking price but does not reveal that number to the buyer without permission. Which fiduciary duty is being followed?