Under New Jersey agency law, a broker who has been designated as a dual agent with the written consent of both parties is STILL required to do all of the following EXCEPT:
Correct Answer
C) Reveal the seller's minimum acceptable price to the buyer upon request
Even with written consent to dual agency, a dual agent in New Jersey is specifically prohibited from disclosing one party's confidential negotiating information — such as the seller's minimum acceptable price — to the other party. This is one of the core limitations of dual agency: the agent cannot share negotiating strategies, motivations, or price thresholds of one party with the other. All other listed duties (accounting, disclosing material defects, and using reasonable skill and care) remain fully intact in a dual agency relationship.
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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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