An agent learns that a competing offer is coming in and immediately alerts the client so the client can adjust strategy. Which fiduciary duty does this action fulfill?
Correct Answer
B) Disclosure
Disclosure is correct because the agent is promptly sharing material information with the client that could affect the client's decisions about the transaction.
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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?
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After the listing expires, the former listing agent is asked by a prospective buyer about the seller's lowest acceptable price. Must the former agent keep that information confidential?