Agency
In Oklahoma, if a listing agent discovers during a listing that the property has a major structural defect, the agent's primary duty is to:
AKeep the information confidential to protect the seller's selling price
BAdvise the seller to disclose the defect on the property disclosure form and to all prospective buyers✓ Correct
CRefuse to show the property until it is repaired
DOnly disclose if a buyer asks about structural issues
Explanation
While the agent's fiduciary duty of loyalty to the seller applies, the duty to disclose material defects overrides the duty of confidentiality. The agent must advise the seller to properly disclose the defect, and must personally disclose it to buyers if the seller refuses.
People Also Study
Related Oklahoma Questions
- An Oklahoma listing agent tells a buyer that the property has 'no known defects' without personally inspecting or verifying this statement. This could be:Agency
- An Oklahoma listing broker's fiduciary duty to the seller includes the duty to:Agency
- An Oklahoma listing agent discovers a crack in the foundation that the seller did not mention. The agent must:Agency
- The fiduciary duty of 'accounting' requires an Oklahoma agent to:Agency
- Mold in a property is a material defect that must be disclosed under Oklahoma's:Environmental
- Oklahoma's license law requires that a licensee promptly disclose to all parties in a transaction any material facts including:Oklahoma License Law
- A property manager's primary fiduciary duty is owed to:Property Management
- Due to Oklahoma's increased earthquake activity, real estate professionals should advise buyers to consider:Environmental
Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
State-Specific Concepts
Disclosure Requirements
Study This Topic
Practice More Oklahoma Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Oklahoma Quiz →