Agency
In Washington, a listing broker who inadvertently reveals the seller's minimum acceptable price to a buyer:
AHas committed no violation because it was accidental
BHas breached the fiduciary duty of confidentiality owed to the seller✓ Correct
CMust immediately terminate the listing agreement
DMust reduce the listing price to the disclosed amount
Explanation
Even accidental disclosure of confidential client information (such as the seller's minimum acceptable price) constitutes a breach of the fiduciary duty of confidentiality under Washington's agency law. Intent does not eliminate the breach.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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