Linda is a buyer's agent in New York who has been working with client Mark for two months. Mark asks Linda about the current market conditions in his target neighborhood. What type of service is Linda providing when she researches and explains local market trends?
Correct Answer
A) Competent and diligent service within her expertise
Providing market analysis and explaining local market conditions falls within the scope of competent real estate services that buyer's agents are expected to provide under New York law. This is part of helping clients make informed decisions about real estate transactions.
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A buyer's agent in New York is asked by their client to prepare a purchase contract for a residential property. Which of the following most accurately describes what the agent is permitted to do under New York law?
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A buyer's agent in New York discovers that the seller of a property his client wants to purchase was his own client in a transaction completed two years ago. The seller is not currently represented by the agent's brokerage. Under New York agency law, what is the agent's primary obligation?