Agency
When a Utah buyer's agent is showing property, they should:
AReveal the maximum price the buyer will pay to help close the deal quickly
BProtect the buyer's confidential financial and negotiating information from the seller and seller's agent✓ Correct
CShare the buyer's motivation for moving to encourage seller cooperation
DDisclose the buyer's preapproval letter amount to the listing agent
Explanation
The buyer's agent owes the duty of confidentiality to their buyer-client. Revealing the buyer's maximum price, motivation, or financial details to the seller's side would harm the buyer's negotiating position and violate the agent's fiduciary duty.
Related Utah Agency Questions
- When a Utah seller's agent learns that the buyer has a much higher budget than the buyer has disclosed, the agent must:
- A Utah agent shows a buyer homes. The buyer reveals they can pay $50,000 more than the asking price. The agent discloses this to the seller without the buyer's permission. This is a violation of:
- If a Utah buyer cancels a contract within the due diligence period, what must the buyer's agent do with the earnest money?
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- Apparent authority (ostensible agency) in real estate exists when:
- A Utah seller's agent who is NOT also the buyer's agent owes which duty to the buyer?
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- A Utah seller's agent learns that the property has a cracked foundation that was not disclosed. The agent must:
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