Agency
In Oklahoma, when an agent knows the property has been tested for radon and the results were elevated, the agent:
AMay keep the results confidential at the seller's request
BMust disclose the radon test results to buyers as a material fact✓ Correct
COnly needs to disclose if the buyer specifically asks about radon
DShould advise the seller to remove the records
Explanation
Known elevated radon levels are a material defect that must be disclosed to prospective buyers. An agent who conceals known test results exposing buyers to health hazards may be liable for misrepresentation.
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Key Terms to Know
Agency
A 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.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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