Agency
If a buyer's agent learns that their buyer-client is planning to demolish a home after purchase to build a car dealership, the agent should:
AImmediately inform the seller of the buyer's plans
BKeep this information confidential unless the buyer authorizes disclosure — it is confidential client information✓ Correct
CDisclose to the listing agent only
DWithdraw from the transaction
Explanation
Information about the buyer's plans is confidential client information. The buyer's agent must keep this information confidential unless the buyer authorizes disclosure.
People Also Study
Related Ohio Questions
- An Ohio purchase contract states the buyer's obligation to purchase is 'contingent upon the buyer selling their current home.' This is called a:Contracts
- What is the duty of disclosure an Ohio agent owes to their client?Agency
- In Ohio, a buyer's agent discovers that their client is a convicted felon. The agent should:Agency
- An Ohio buyer's agent should advise their client to:Agency
- An Ohio buyer's agent who helps a client draft an offer to purchase is exercising:Agency
Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Study This Topic
Practice More Ohio Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Ohio Quiz →