Agency
If a Virginia buyer's agent learns that their client wants to make a low offer to test the seller's flexibility, this is:
AMaterial information that must be disclosed to the seller
BConfidential negotiating strategy that must not be disclosed to the seller✓ Correct
CA fair housing concern
DRequired to be disclosed under VREB rules
Explanation
Negotiating strategy and the buyer's motivation or financial flexibility are confidential. A buyer's agent must not disclose this information to the seller or listing agent.
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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.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
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