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Pa Agency Consumer NoticeBuyer_agent_dutiesMEDIUM

A Pennsylvania buyer's agent receives a call from an appraiser conducting the appraisal on the buyer's property. The appraiser asks for recent comparable sales in the area. How should the buyer's agent handle this request?

Correct Answer

C) Provide factual comparable sales data without attempting to influence the appraisal outcome

A Pennsylvania buyer's agent may provide factual market data, including comparable sales, to an appraiser. The agent should share accurate information without attempting to influence the appraisal outcome. Providing market data is a legitimate part of the transaction process.

Answer Options
A
Refuse to speak with the appraiser because any communication could be considered improper influence
B
Provide only comparable sales data that supports the agreed purchase price and withhold unfavorable comparables
C
Provide factual comparable sales data without attempting to influence the appraisal outcome
D
Tell the appraiser the minimum value needed for the buyer's loan to be approved

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Related Topics & Key Terms

Key Terms:

buyer_agentappraisalcomparable_salesappraiser_communication

Related Concepts

A non-agency relationship where the broker facilitates a real estate transaction without representing either party, owing limited duties of honesty, fairness, and competence to both.

The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.

An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.

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