Agency
In South Dakota, if a buyer's agent has a personal interest in a property the buyer is considering (such as the property belonging to a family member), the agent must:
AWithdraw from the transaction entirely
BDisclose the interest and potential conflict to the buyer client✓ Correct
COnly disclose if the buyer specifically asks
DContinue as normal since the agent is working for the buyer
Explanation
A buyer's agent who has a personal interest or conflict in a property must fully disclose this to the buyer client. The buyer can then decide whether to continue using the agent or seek independent representation. Undisclosed conflicts of interest violate fiduciary duties.
Related South Dakota Agency Questions
- A South Dakota licensee working as a transaction broker owes which of the following to both parties?
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- In South Dakota, which document is used to formalize the agency relationship with a buyer?
- In South Dakota, a seller's agent must disclose which of the following to a prospective buyer?
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