In Alabama, the duty of confidentiality requires a listing agent to:
Why Keep the seller's motivations and financial situation confidential Is Correct
Answer B: Keep the seller's motivations and financial situation confidential
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, when a listing agent receives an offer far below the listing price, their duty is to:Agency
- Which fiduciary duty requires an Alabama agent to put the client's interests above their own?Agency
- An Alabama listing agent learns that the seller received notice of a job transfer and must sell quickly. This information is:Agency
- Which type of listing requires the seller to pay a commission even if they sell the property themselves?Contracts
- Which of the following statements about an Alabama exclusive right to sell listing is TRUE?Contracts
- A seller tells their listing agent they will not sell to anyone of a particular national origin. The agent should:Fair Housing
- An Alabama licensee's obligation to keep their contact information updated with AREC is primarily because:Alabama License Law
Key Terms to Know
A 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.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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