Agency
A listing agent learns that the seller plans to accept any offer above $180,000, though the property is listed at $220,000. The listing agent:
AMust keep this information confidential from buyers✓ Correct
BShould disclose this to all potential buyers as material information
CShould advise the seller to lower the listing price immediately
DHas no duty regarding this information
Explanation
The listing agent owes the seller a duty of confidentiality and loyalty. The seller's motivation and lowest acceptable price are confidential negotiating information that should not be disclosed to buyers without the seller's consent.
Related Arkansas Agency Questions
- The agency disclosure form in Arkansas must be provided to a prospective buyer or seller:
- A licensee working as a buyer's agent has a personal interest in a listing their buyer wants to purchase. The agent must:
- A buyer's agent discovers that their buyer-client has a maximum budget of $300,000 but the seller is asking $280,000. Under buyer agency, the agent should:
- The duty of 'accounting' in an agency relationship means the agent must:
- A real estate agent who represents both the buyer and seller in the same transaction is known as a:
- An implied agency relationship can be created by:
- Which of the following is NOT a fiduciary duty owed by an agent to their client?
- The seller's agent discovers that the home has a leaking roof the seller did not disclose. The agent should:
Practice More Arkansas Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Arkansas Quiz →