Agency
A Pennsylvania seller's agent who learns that the prospective buyer is emotionally attached to the property and will pay any price should:
AShare this information with the seller to help them negotiate a higher price
BMaintain this information as confidential — the buyer's motivation is protected information of the buyer's agent✓ Correct
CTell both parties to avoid any appearance of unfairness
DReport this situation to PREC
Explanation
Information about a buyer's motivation and emotional attachment belongs to the buyer and is confidential to the buyer's agent. If this information somehow comes to the seller's agent, they should recognize it as the buyer's agent's client information and not use it to the seller's advantage without disclosure.
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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.
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.
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