Maria is a broker in Washington who has signed a listing agreement with homeowner David. David tells Maria that he needs to sell quickly because he is facing foreclosure, but he does not want this information shared with potential buyers. Under RCW 18.86, what is Maria's obligation regarding David's financial urgency?
Correct Answer
A) Maria must keep David's financial urgency confidential and may not disclose it to buyers.
Under RCW 18.86.040(1)(d), a seller's agent owes the seller a duty of confidentiality, which means the agent must not disclose confidential information — including the seller's financial urgency or motivation to sell — to third parties without the seller's consent. This is one of the core statutory duties owed to a client under Washington's codified agency law.
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Related Topics & Key Terms
Key Terms:
Related Concepts
An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.
The legal requirement for real estate agents to inform all parties about who they represent in a transaction, typically provided at first substantive contact.
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.
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