Agency
A West Virginia listing agent who knows the seller is concealing a leaking basement should:
AKeep the information confidential to protect the seller
BDisclose the defect to prospective buyers✓ Correct
CSimply recommend the buyer get an inspection
DDo nothing — it is not the agent's responsibility
Explanation
An agent who knows about a material defect — even one the seller is trying to conceal — has a legal and ethical obligation to disclose it to buyers. Concealing known material defects is fraudulent misrepresentation.
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Key Terms to Know
Agency
A 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.
Fiduciary DutyThe 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.
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