Agency
In Michigan, an agent representing a seller should NOT share which information with a buyer?
AKnown material defects in the property
BThe seller's minimum acceptable price✓ Correct
CThe existence of other offers (if the seller consents to disclosure)
DThe property's public record information
Explanation
The seller's minimum acceptable price is confidential information that a seller's agent must protect from disclosure to the buyer, as it would harm the seller's negotiating position. Material defects, public records, and the existence of offers (with seller consent) may be disclosed.
Related Michigan Agency Questions
- In Michigan, which type of agency exists when an agent acts for a principal in situations where no express or implied agency has been established but the principal later approves the agent's actions?
- Which of the following best describes a buyer's agent in Michigan?
- A Michigan listing expires without a sale. The seller relists with a different broker. The original listing agent:
- Michigan requires that agency disclosure be made to the consumer:
- In Michigan, material facts that a listing agent must disclose include:
- When must a Michigan licensee provide the agency disclosure form to a buyer customer?
- In Michigan, implied agency is created when:
- In Michigan, a real estate agent's duty of reasonable care requires the agent to:
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