Agency
A Vermont buyer's agent who also earns a referral fee from a title company must disclose this arrangement:
AOnly to the title company
BTo the buyer client and comply with RESPA's prohibition on undisclosed kickbacks✓ Correct
CTo the VREC in a quarterly report
DTo the seller's agent
Explanation
RESPA prohibits undisclosed kickbacks and referral fees between settlement service providers. Vermont agents must disclose any referral fee from title companies to their buyer clients. Undisclosed referral fees violate RESPA and Vermont license law and may result in the fee being required to be returned.
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