In Colorado, if a buyer and seller both consent in writing, a broker may act as a 'dual agent.' In a dual agency, the broker:
Why B. Cannot disclose the seller's minimum acceptable price or the buyer's maximum willingness to pay without consent Is Correct
Answer B: B. Cannot disclose the seller's minimum acceptable price or the buyer's maximum willingness to pay without consent
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.
Key Agency Terms in This Question
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Key Terms to Know
A situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate 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.
Buyer's AgentA real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
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