Agency
A Kentucky buyer's agent learns that the buyer has been transferred and must purchase quickly. The agent should:
AShare this information with the listing agent to help facilitate the deal
BKeep this information confidential and use it to benefit the buyer✓ Correct
CDisclose it to the seller since it speeds up the transaction
DNotify KREC of the buyer's urgency
Explanation
Information about the buyer's motivation or urgency is confidential. Sharing it with the seller would give the seller negotiating leverage at the buyer's expense, violating the agent's duty of loyalty.
Related Kentucky Agency Questions
- A Kentucky listing agent's fiduciary duty of 'disclosure' requires the agent to disclose to the seller:
- An agent who discloses a buyer's financial desperation to a seller is violating the duty of:
- A Kentucky buyer's agent who knows the seller is financially distressed and must sell quickly should:
- Which of the following is NOT a fiduciary duty owed by a Kentucky buyer's agent to their client?
- The duty of 'obedience' in a Kentucky agency relationship requires the agent to:
- Express agency in Kentucky is created by:
- Which fiduciary duty requires a Kentucky agent to place the client's interests above all others, including the agent's own?
- In Kentucky, a 'disclosed limited agent' represents:
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