Agency
Nebraska's agency law requires that a buyer's agent who is aware their buyer has committed to buying the property (highly motivated) must:
ADisclose the buyer's high motivation to the seller to be fair
BKeep the buyer's motivation confidential to protect the buyer's negotiating position✓ Correct
CDisclose the buyer's maximum budget to the seller
DWithdraw from dual agency if the buyer is too motivated
Explanation
The buyer's agent must keep the buyer's motivations, price limits, and negotiating strategy confidential. Disclosing the buyer's eagerness to the seller would undermine the buyer's position and violate the agent's fiduciary duty.
Related Nebraska Agency Questions
- A Nebraska salesperson meets potential buyers at an open house. Before discussing the property in detail, the salesperson must:
- A real estate agent who represents the seller has a duty to disclose to ALL parties:
- A buyer's agent's duty of obedience requires the agent to:
- Ratification of an unauthorized act in agency occurs when:
- An agent who volunteers information to benefit the client that the client did not ask for is fulfilling the duty of:
- A buyer's agent in Nebraska who learns the seller is desperate to sell should:
- In Nebraska, a transaction broker provides:
- In Nebraska, 'informed consent' to dual agency requires:
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