Agency
A buyer's agent discovers that the seller's listed price is significantly below the property's market value. The buyer's agent should:
ADisclose this to the seller to fulfill disclosure duties
BKeep this information confidential and use it to benefit the buyer✓ Correct
CDisclose it to both parties equally
DReport it to the DOS immediately
Explanation
A buyer's agent owes fiduciary duties to the buyer, including the duty of loyalty. Information about a favorable pricing situation benefits the buyer and should be used in the buyer's interest, not shared with the seller.
Related New York Agency Questions
- Under New York law, when a buyer's agent submits an offer on behalf of the buyer, the agent must disclose their agency relationship to:
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