Agency
In New York, a licensee acting as a 'buyer's agent' for a buyer who is also a personal friend must:
ACharge a reduced commission as a courtesy
BMaintain the same professional standards and fiduciary duties they would owe any other client✓ Correct
CDisclose the friendship to the seller
DRefuse to represent the friend to avoid conflicts
Explanation
A licensee owes the same fiduciary duties to all clients regardless of personal relationships. Friendship does not reduce professional obligations, and the agent should be especially careful to maintain clear boundaries between the personal and professional relationship.
Related New York Agency Questions
- In New York, a broker who receives an offer on a listed property that the seller may want to accept must communicate the offer to the seller:
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