In New Jersey, a real estate licensee who represents a seller has a fiduciary duty of confidentiality. Which of the following pieces of information would the listing agent be MOST obligated to keep confidential from the buyer?
Correct Answer
C) The seller's minimum acceptable price below the listed asking price
The duty of confidentiality requires a listing agent to protect information that could harm the seller's bargaining position, such as the seller's true bottom-line price. Disclosing the seller's minimum acceptable price to the buyer would directly undermine the seller's negotiating leverage and violate the agent's fiduciary duty of confidentiality to the seller client.
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Related Topics & Key Terms
Key Terms:
Related Concepts
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.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
A relationship where a listing broker authorizes other brokers to act as agents of the seller, extending the seller's agency relationship to cooperating brokers.
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