Agency
A buyer specifically asks their agent to keep their maximum purchase price confidential. The agent must:
AA. Disclose it to the seller's agent if asked directly
BB. Keep this information confidential as part of the fiduciary duty of confidentiality✓ Correct
CC. Disclose it to all parties for transparency
DD. Include it in all written offers
Explanation
The buyer's maximum willingness to pay is a classic confidential piece of information in a buyer's agency. Disclosing it to the seller would damage the buyer's negotiating position and violate the agent's duty of confidentiality and loyalty.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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