Agency
A Florida buyer's representative is showing a home. The buyer confides that they love the home and would pay up to $40,000 more than the asking price. The buyer's agent should:
AImmediately tell the seller to increase their price
BKeep this information confidential — it is protected under the duty of confidentiality✓ Correct
CInclude it in the written offer to motivate the seller
DDisclose it to the listing agent to speed up the negotiation
Explanation
A buyer's agent owes the buyer a duty of confidentiality. The buyer's maximum price and motivation are personal negotiating information that must be protected.
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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.
Adjustable-Rate Mortgage (ARM)A mortgage with an interest rate that changes periodically based on a financial index, usually after an initial fixed-rate period.
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.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
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