Agency
A Florida broker who is the buyer's single agent learns that the property has a serious foundation problem the listing agent didn't mention. The broker's primary duty is to:
AStay quiet to avoid embarrassing the listing agent
BDisclose this to the buyer client and investigate further✓ Correct
COnly mention it if the buyer asks specifically
DReport it to FREC first
Explanation
A buyer's single agent has an absolute duty of full disclosure to their client. If the buyer's agent discovers a material defect, they must immediately disclose it to the buyer client so the buyer can make an informed decision, negotiate repairs, or exercise any inspection contingency.
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
ContingencyA condition in a purchase contract that must be satisfied before the sale can proceed to closing.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
State-Specific Concepts
FREC Regulation
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