A buyer represented under a buyer agency agreement tells his agent he has a firm upper limit on what he will spend and plans to open negotiations well below that figure. Under Ohio agency law, how should the agent treat this information?
Correct Answer
C) Keep it strictly confidential, as it is part of the buyer's negotiating position and strategy
Under Ohio agency law, a buyer's agent owes the client a fiduciary duty of confidentiality. A buyer's maximum budget and negotiating strategy are among the most sensitive categories of information in a transaction — disclosing either to the opposing party would directly undermine the buyer's bargaining position and constitute a breach of the agent's duty of loyalty.
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