Agency
An Oklahoma real estate agent acting as a buyer's agent discovers the seller has priced the property well below market value due to a divorce situation. The agent's duty to the buyer:
ARequires the agent to tell the seller they are pricing too low
BIncludes maintaining confidentiality about the seller's situation and negotiating the best possible price for the buyer client✓ Correct
CRequires the agent to split the savings with the seller
DIncludes disclosing the seller's personal situation to other buyers
Explanation
A buyer's agent's fiduciary duties run to the buyer client, not the seller. The agent should use information beneficial to the buyer's negotiating position (the below-market pricing) to the buyer's advantage, while not actively deceiving the seller.
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