Agency
What is a Nevada agent's duty when they learn the buyer has financing already committed but the seller's agent is unaware?
AThe buyer's agent must disclose this to the seller's agent
BThe buyer's agent must keep this confidential as it is non-material private buyer information✓ Correct
CThe buyer's agent must disclose it to the escrow company
DThe buyer's agent should tell the seller's agent to strengthen the offer
Explanation
A buyer's agent owes confidentiality to their buyer client. The buyer's existing loan commitment is private financial information that could be used against the buyer in negotiations (e.g., the seller might reject concessions knowing the buyer is committed). The agent should not disclose this confidential information.
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