Agent Donna is a licensed NH salesperson representing buyer clients in their purchase of a home in Keene. The seller is represented by a different brokerage. During negotiations, Donna learns that her buyer clients are willing to pay up to $320,000 for the property, though their initial offer is $295,000. The seller's agent asks Donna directly what her buyers' maximum budget is. What should Donna do?
Correct Answer
B) Decline to disclose the buyers' maximum budget because it is confidential information she owes a duty to protect
As a buyer's agent under RSA 331-A:25-b, Donna owes fiduciary duties to her buyer clients, including the duty of confidentiality. The buyers' maximum budget is confidential information that directly affects their negotiating position. Donna must decline to disclose this information to the seller's agent.
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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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