Agency
A Minnesota listing agent is also working as a buyer's agent in a different transaction. The agent learns information in the buyer's agency role that would benefit their seller client. The agent:
AMust share all information with their seller client since loyalty is the top duty
BCannot use confidential buyer information for the seller's benefit✓ Correct
CShould withdraw from both transactions immediately
DMust disclose this conflict of interest to the Department of Commerce
Explanation
An agent who represents different clients in separate transactions cannot use confidential information from one client to benefit the other. Duties of confidentiality apply to each client independently. Using confidential buyer information to benefit a seller would be a serious breach of fiduciary duty and could expose the agent to liability.
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