Agency
A Kansas real estate agent who represents a buyer client discovers the listing agent has deliberately hidden a defect. The buyer's agent should:
AKeep quiet to avoid conflict
BDisclose the known defect to the buyer-client immediately✓ Correct
CReport the listing agent to KREC only, without telling the buyer
DWait for the inspection to reveal the defect
Explanation
The buyer's agent has a fiduciary duty of disclosure to the buyer-client and must immediately disclose all known material facts, including known defects even if the listing agent concealed them.
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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.
Buyer's AgentA 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.
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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