Agency
A Massachusetts buyer's agent receives a $500 gift from the seller after the closing. The agent must:
AAccept it as a courtesy gift
BDisclose it to their buyer-client, as it represents a payment from the adverse party✓ Correct
CReport it to the Board of Registration
DRefuse it under all circumstances
Explanation
Receiving payment or gifts from the party adverse to the agent's client (the seller, when the agent represents the buyer) creates a conflict of interest and must be disclosed to the client. In some circumstances, the agent may need to refuse.
Related Massachusetts Agency Questions
- A Massachusetts buyer's agent finds a property not listed on the MLS. The agent advises the buyer to offer $30,000 over asking without disclosing that the agent has a personal relationship with the listing agent. This is a violation of the duty of:
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