An Alabama listing agent learns that the seller received notice of a job transfer and must sell quickly. This information is:
Why Confidential information that should not be shared with buyers Is Correct
Answer B: Confidential information that should not be shared with buyers
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
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Related Alabama Questions
- When a listing agent learns that their seller is under severe financial distress and must sell quickly, the duty of confidentiality requires:Agency
- In Alabama, the duty of confidentiality requires a listing agent to:Agency
- Which of the following statements about an Alabama exclusive right to sell listing is TRUE?Contracts
- A buyer's agent who learns confidential information about the buyer (such as the maximum price they are willing to pay) must:Agency
- A listing agent who tells a buyer that the seller 'must sell quickly' is:Agency
Key Terms to Know
A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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