Agency
A Massachusetts buyer's agent who learns that the seller has a termite infestation not disclosed in the listing must:
AKeep it confidential since it is the seller's information
BDisclose it to the buyer immediately as a material fact✓ Correct
CWait for the home inspection to reveal it
DReport it only to the Board of Registration
Explanation
A Massachusetts buyer's agent owes a fiduciary duty to the buyer. Material facts affecting the property's value or desirability, such as a termite infestation, must be disclosed to the buyer promptly regardless of the source of the information.
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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.
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.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
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