An agent discloses to the buyer that the agent's spouse owns the title company being used for closing. By making this disclosure, what potential problem has the agent addressed?
Correct Answer
C) Conflict of interest through proper disclosure
By disclosing the family relationship, the agent has properly addressed a potential conflict of interest, allowing the buyer to make an informed decision.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
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A listing agreement creates an agency relationship between:
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