Agency
In Tennessee, a 'seller's agent' may ethically share which of the following information about the seller with the buyer?
AThe seller's minimum acceptable price
BThe seller's reason for moving (only if the seller consents)✓ Correct
CThe seller's financial condition
DThe seller's willingness to accept a lower offer
Explanation
A seller's agent must keep confidential information that could harm the seller's negotiating position. The seller's reason for moving may be disclosed if the seller consents, but the agent should not volunteer confidential motivations without consent.
Related Tennessee Agency Questions
- Which of the following best describes the concept of 'vicarious liability' in real estate agency?
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- In Tennessee, when representing a buyer, an affiliate broker is required to:
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- In Tennessee, a listing broker's duty to the seller regarding the property's list price is to:
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