Agency
An Indiana buyer's agent who learns during a showing that the seller has told the listing agent they 'must sell within 30 days' should:
AShare this information with their buyer to negotiate a lower price✓ Correct
BDetermine how they learned this information — if it was disclosed by the listing agent in confidence, they may have ethical obligations; they should proceed carefully
CDisclose it in their buyer's offer
DReport it to the IREC
Explanation
If a seller's agent inadvertently reveals a client's confidential motivation (urgency to sell), the buyer's agent owes their client the duty of loyalty and may use that information to benefit the buyer — that is the nature of representing the buyer's interests.
Related Indiana Agency Questions
- A principal may terminate an agency relationship at any time. However, doing so before the agency term expires may result in:
- In a dual agency transaction in Indiana, the broker CANNOT do which of the following?
- When is puffing in real estate advertising acceptable?
- Ratification of an agency relationship occurs when:
- If a buyer's agent discovers a serious structural defect during a showing, the agent should:
- Ostensible (apparent) agency arises when:
- The fiduciary duty of confidentiality requires an agent to:
- An agent's duty of loyalty requires that the agent:
Practice More Indiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Indiana Quiz →