Agency
Under California law, which of the following disclosures is the listing agent required to make to a buyer?
AThe seller's minimum acceptable price
BThat the agent represents the seller's interests, not the buyer's✓ Correct
CThe terms of all other offers the seller has received
DThe seller's plans for their next property purchase
Explanation
The agency disclosure form informs the buyer about who the agent represents. A listing agent must disclose they represent the seller, creating a non-agency (or limited) relationship with the buyer. Seller's confidential information (such as minimum price) must not be disclosed.
Related California Agency Questions
- A buyer's agent discovers that a home has significant foundation problems not disclosed by the seller. What is the agent's duty?
- What is 'agency by estoppel'?
- The 'duty of obedience' requires a real estate agent to follow all lawful instructions of the principal. Which instruction would an agent be JUSTIFIED in refusing?
- A seller's agent has a fiduciary duty of loyalty. This means the agent must:
- When does an agency relationship typically terminate?
- After a listing expires, a former listing agent who contacts the seller directly to negotiate a new listing must:
- A real estate agent must disclose their agency relationship to all parties:
- What is 'ratification' in agency law?
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