Agency
A Rhode Island buyer's agent finds out their buyer-client is willing to pay $30,000 more than their offer price. The agent is approached by the listing agent who asks about the buyer's maximum. What should the buyer's agent do?
AShare the information to facilitate a smooth transaction
BMaintain confidentiality and not disclose the buyer's maximum willingness to pay✓ Correct
CTell the listing agent to ask the buyer directly
DDisclose the information if it would help close the deal
Explanation
A buyer's agent owes a duty of confidentiality to their client. Disclosing the buyer's maximum willingness to pay would breach this duty and potentially harm the buyer's negotiating position.
Related Rhode Island Agency Questions
- Under Rhode Island law, which statement about buyer agency agreements is correct?
- A buyer's broker submits an offer on a listed property and discloses that they represent the buyer. The listing broker is required to:
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- A Rhode Island agent has a client relationship with a buyer and is showing a property listed by the same agent's broker. This creates:
- What is the significance of the Rhode Island 'Agency Relationship Disclosure' form?
- Apparent authority in agency arises when:
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