Agency
In Idaho, when a buyer's agent learns that their buyer-client is willing to pay significantly more than the asking price, what must the agent do?
AImmediately disclose this to the seller
BKeep this information confidential as it constitutes client confidential information✓ Correct
CReport it to IREC
DDisclose it in writing to both parties
Explanation
A buyer's agent in Idaho owes the duty of confidentiality to their buyer-client. The buyer's maximum willingness to pay is confidential information that the buyer's agent must not disclose to the seller or seller's agent.
People Also Study
Related Idaho Questions
- A seller instructs their Idaho listing agent to disclose the minimum price they will accept to any interested buyer. The agent should:Agency
- In Idaho, an agent's duty to keep client information confidential includes:Agency
- In Idaho, what is the duty of 'loyalty' that a buyer's agent owes to their client?Agency
- A licensee working as a transaction broker in Idaho owes which duty to both parties?Agency
- Under Idaho law, a real estate licensee must disclose their agency relationship to a customer at:Idaho License Law
- A buyer in Idaho purchases a property and later discovers an undisclosed easement that significantly limits their use. What is the buyer's best remedy?Property Ownership
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.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Study This Topic
Practice More Idaho Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Idaho Quiz →