A listing agent knows the seller wants to accept any offer above $290,000. When the buyer asks the listing agent what the seller would accept, what should the listing agent do?
Correct Answer
C) Decline to reveal the seller's confidential negotiating position
The listing agent owes the seller confidentiality and must not reveal the seller's bottom line to the buyer, even if it would facilitate a deal.
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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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A listing agreement creates an agency relationship between:
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