Agency
If a Vermont real estate agent is representing a buyer and the buyer discloses their maximum purchase price, the agent should:
ADisclose this to the seller because material information must be shared
BKeep this information strictly confidential from the seller✓ Correct
CFile this information with the Vermont Real Estate Commission
DInclude it in the purchase offer to strengthen the buyer's position
Explanation
A buyer's agent owes confidentiality to the buyer. The buyer's maximum willingness to pay is confidential strategic information that the agent must not disclose to the seller, as this would harm the buyer's negotiating position.
Related Vermont Agency Questions
- Which of the following best summarizes the six fiduciary duties a Vermont agent owes their client, often remembered by the acronym 'COAL DR' or 'OLDCAR'?
- Under Vermont law, which of the following is an example of an implied agency?
- Vermont's 'agency confirmation' at the time of contract preparation requires agents to:
- A Vermont designated agency arrangement means:
- A Vermont open listing agreement gives the seller the right to:
- Vermont licensees must keep accurate transaction records for at least:
- Vermont's 'sub-agency' relationship, where a cooperating broker acts as an agent of the listing broker and seller, is now:
- Vermont's 'co-broke' arrangement allows:
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