Agency
A buyer's agent is showing homes to a buyer who has told the agent they are being transferred and must move in 60 days. When negotiating, the agent should:
ATell the listing agent about the buyer's deadline to help speed the transaction
BKeep the buyer's time constraint confidential and advise the buyer strategically✓ Correct
COnly show homes that have been on the market for less than 30 days
DRecommend the buyer offer full price to ensure they get the home in time
Explanation
The buyer's deadline is confidential information. Disclosing it to the listing agent would weaken the buyer's negotiating position by signaling urgency.
Related Arkansas Agency Questions
- An agent's authority to bind the principal in contract is called:
- A cooperating broker who finds a buyer for a listed property typically earns compensation through:
- A licensee who represents the buyer in a transaction where the licensee's spouse is the seller must:
- Puffing in real estate is best described as:
- An agent who gives a buyer advice about negotiating a lower price for a seller's property (without representing the buyer) is potentially creating:
- The duty of confidentiality survives the termination of the agency because:
- The term 'fiduciary' in real estate agency means the agent:
- Which type of agency relationship is created when a buyer signs a buyer representation agreement with a broker?
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