Agency
A Wisconsin buyer's agent who discovers during a showing that a home has a cracked foundation must:
AKeep it confidential to protect the deal
BDisclose this material adverse fact to the buyer immediately✓ Correct
CTell the seller's agent only
DWait for the inspection report before disclosing
Explanation
A cracked foundation is a material adverse fact that the buyer's agent must disclose to the buyer immediately upon discovery, regardless of when the formal inspection occurs.
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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.
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.
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