Agency
When a Utah seller's agent learns that the buyer has a much higher budget than the buyer has disclosed, the agent must:
AShare this information with the seller to get a higher price
BKeep this information confidential as it relates to the buyer's negotiating position✓ Correct
CDisclose it on the Agency Disclosure Form
DReport it to the Utah Division of Real Estate
Explanation
A seller's agent must not disclose confidential information about the buyer that could harm the buyer's negotiating position. Even though the agent represents the seller, disclosing the buyer's true budget would be an improper breach of the buyer's confidential information.
Related Utah Agency Questions
- In Utah, the agency relationship between a broker and client is most effectively created by:
- A Utah listing agent who has knowledge that the home was the site of a prior murder or suicide must:
- The duty of accounting in a real estate agency relationship requires the agent to:
- In Utah, a seller who owes HOA assessments at closing must:
- Termination of a buyer agency agreement in Utah can occur by:
- Subagency in Utah real estate means that:
- A Utah real estate agent who witnesses the seller make a material misrepresentation to the buyer should:
- A Utah agent who represents the buyer in a new construction transaction must:
Practice More Utah Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Utah Quiz →