Which of the following information must a buyer's agent keep confidential from the seller?
Correct Answer
B) The buyer's financial capacity and motivation to purchase
Under Montana law (MCA 37-51-313), a buyer's agent owes a duty of confidentiality to their client. This includes protecting the buyer's financial capacity, motivation to purchase, and negotiating position. Disclosing this information to the seller could harm the buyer's ability to negotiate effectively. Information such as listing price, square footage, and comparable sales are generally available to all parties and are not confidential.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
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.
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.
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