Agency
A buyer's agent in Mississippi may NOT:
AShow the buyer properties listed by other brokerages
BDisclose the seller's known financial distress to the buyer
CDisclose the buyer's confidential negotiating strategy to the seller✓ Correct
DNegotiate on the buyer's behalf
Explanation
A buyer's agent owes the duty of confidentiality to the buyer. Disclosing the buyer's negotiating strategy or maximum price to the seller would be a breach of the agent's fiduciary duty.
People Also Study
Related Mississippi Questions
- A Mississippi real estate licensee who represents the buyer in a transaction owes a duty of loyalty to the buyer, which means:Agency
- A Mississippi buyer signs a buyer representation agreement with a brokerage. The brokerage now owes the buyer full fiduciary duties. This type of agent is called a:Agency
- Which of the following actions would most likely constitute a breach of the agent's duty of confidentiality to a seller client?Agency
- Which of the following is NOT a fiduciary duty owed by a Mississippi agent to their client?Agency
- A Mississippi property is purchased with an FHA loan. The seller agrees to pay 4% of the purchase price in closing cost concessions. If the purchase price is $180,000, the maximum seller concession is:Finance
- A Mississippi buyer's agent submits an offer with an escalation clause: 'Buyer will pay $1,000 more than any competing bona fide offer up to a maximum of $325,000.' The seller receives another offer at $310,000. The escalated offer price is:Contracts
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.
Study This Topic
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →