Agency
An Oklahoma buyer's agent learns that her client plans to offer significantly below asking price because the client is a cash buyer and can close in 14 days. Regarding the seller, the agent should:
ADisclose the buyer's financial strength to the seller to get the offer accepted
BKeep the buyer's financial motivation and negotiating strategy confidential✓ Correct
CRefuse to present an offer below asking price
DDisclose the information only if the seller's agent asks directly
Explanation
A buyer's agent owes the duty of confidentiality to the buyer client. The agent must keep confidential information about the buyer's negotiating position, motivation, and financial capacity, using it only to benefit the buyer.
Related Oklahoma Agency Questions
- In Oklahoma, a buyer's agent who represents a purchaser in a transaction where the seller is also represented must:
- In Oklahoma, a sub-agent represents:
- In an Oklahoma designated agency arrangement, the broker:
- Oklahoma requires agency disclosure to be provided in which form?
- Which duty does an Oklahoma licensee owe to ALL parties in a transaction, regardless of who they represent?
- Agency by ratification occurs when:
- Which of the following would terminate an agency relationship in Oklahoma?
- When a single broker represents both the buyer and seller in the same transaction with informed consent, this is called:
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