Agency
A Wisconsin buyer's agent who knows the seller is in financial distress but does NOT disclose this to the buyer is:
AFulfilling their duty of confidentiality to the seller
BFailing to fulfill a duty — agents must disclose material facts to their own clients✓ Correct
CActing appropriately as this is the seller's private information
DRequired to disclose only if the buyer specifically asks
Explanation
A buyer's agent in Wisconsin owes duties to their buyer-client, including disclosure of material facts that could affect the buyer's decisions. Financial distress of the seller is a material fact the buyer's agent should share.
Related Wisconsin Agency Questions
- A Wisconsin broker discloses a dual agency situation and gets written consent. One of the duties the broker must limit is:
- A Wisconsin seller who revokes a listing agreement before its expiration date may be liable to the broker for:
- In Wisconsin, multiple representation (dual agency) requires:
- Under Wisconsin law, a buyer's agent who learns the seller will accept less than the listing price should:
- The Wisconsin 'Disclosure to Customers' form is used when a licensee works with a party as a:
- A Wisconsin buyer's agent owes their client 'reasonable care.' This means the agent must:
- Wisconsin's agency disclosure requirements are designed to ensure that consumers:
- Dual agency in Wisconsin requires:
Practice More Wisconsin Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Wisconsin Quiz →