Agency
The duty of disclosure in an agency relationship requires the agent to:
AReveal all confidential information about the principal to third parties
BInform the principal of all material facts relevant to the transaction✓ Correct
CReport all transactions to AREC
DDisclose the commission rate to the public
Explanation
The agent's duty of disclosure requires them to inform their principal (client) of all known material facts that could affect the principal's decisions.
Related Alabama Agency Questions
- An agency relationship can be terminated by which of the following?
- A buyer's agent who learns confidential information about the buyer (such as the maximum price they are willing to pay) must:
- A salesperson signs a listing agreement on behalf of their qualifying broker. Who is the actual listing agent (the seller's agent)?
- Which listing agreement type provides the brokerage with the greatest level of protection and is MOST commonly used?
- Under Alabama agency law, a 'limited consensual dual agent' may represent:
- A dual agent in Alabama represents:
- A listing agent who learns that the seller is in severe financial distress must disclose this fact to:
- An agent accidentally creates an agency through their conduct without a written agreement. This is called:
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