Agency
In West Virginia, a real estate agent's duty of disclosure to their client includes disclosing which of the following?
AThe agent's political affiliation
BAny information that might affect the client's decision in the transaction✓ Correct
CThe agent's personal opinion of the neighborhood's future
DThe agent's commission split with their broker
Explanation
The duty of disclosure requires an agent to disclose to their client any information the agent has that could reasonably affect the client's decisions in the transaction — including information about the other party, the property, market conditions, or the agent's own interests.
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Key Terms to Know
Lien
A 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.
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.
Math Concepts
State-Specific Concepts
Disclosure Requirements
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