Agency
In Tennessee, if a listing broker learns during showings that the seller has structural defects they did not disclose, the broker should:
AKeep it confidential as part of the seller's fiduciary relationship
BDisclose the known defect to buyers as a material fact✓ Correct
CWithdraw from the listing without explanation
DReport the seller to TREC before taking any further action
Explanation
Even when representing the seller, a Tennessee licensee must disclose known material defects to buyers. The duty to disclose material facts that affect value or desirability overrides the duty of confidentiality about the seller's personal information.
Related Tennessee Agency Questions
- An agent's duty of 'reasonable care and diligence' means the agent must:
- The Tennessee agency disclosure form must be signed by the consumer:
- A buyer's agent in Tennessee who learns the buyer is being transferred and must purchase within 60 days should:
- In Tennessee, the duty of confidentiality to a client means the broker may NOT disclose:
- In Tennessee, an 'open listing' allows the seller to:
- In Tennessee, a broker's duty to a seller under a listing agreement includes all of the following EXCEPT:
- Implied agency arises when:
- A Tennessee principal broker who personally participates in a transaction as the seller or buyer must:
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