Agency
A Vermont agent working as a buyer's agent who learns of a new listing before it hits the MLS may share this information with their buyer client because:
ASharing non-MLS listings is illegal in Vermont
BSharing relevant property information is part of the agent's duty to diligently represent the buyer client's interests✓ Correct
CThis would be considered insider trading
DOnly if the listing agent agrees
Explanation
A buyer's agent's duty of diligence requires actively seeking out properties matching the buyer's criteria, including off-market and pre-MLS listings. Sharing such information with the buyer is a fundamental part of representing the buyer's interests.
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
State-Specific Concepts
Continuing Education
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