Agency
In New York, which of the following would constitute a breach of the agent's duty of 'confidentiality' to their buyer-client?
ADisclosing a material defect in the property to the buyer
BTelling the seller's agent that the buyer is willing to pay up to $50,000 more than the offer price✓ Correct
CAdvising the buyer to obtain legal counsel
DDisclosing the buyer's name to the listing broker
Explanation
Disclosing the buyer's maximum willingness to pay to the seller or seller's agent is a clear breach of the duty of confidentiality. This information could be used by the seller to counter at the buyer's maximum and extract more value from the transaction. The duty of confidentiality requires the buyer's agent to protect sensitive information that could harm the buyer's negotiating position.
Related New York Agency Questions
- A broker who earns a commission by bringing about a ready, willing, and able buyer at the listed price has fulfilled their obligation under which type of listing?
- Which of the following is NOT a fiduciary duty owed by an agent to their principal in New York?
- An agent who purchases a listing client's property for themselves without full disclosure is guilty of:
- Under New York RPL section 443, the agency disclosure must be acknowledged by the buyer or seller. What does this acknowledgment signify?
- A real estate agent's duty to disclose to their client includes disclosing all of the following EXCEPT:
- In New York, a buyer's agent who does not disclose to the seller that their buyer client is in financial difficulty is:
- An agent's duty of 'accounting' requires the agent to:
- In New York, a 'transaction broker' (non-agent facilitator) differs from a buyer's or seller's agent in that they:
Practice More New York Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free New York Quiz →