A transaction broker discloses to a buyer who is considering making an offer on listed property that the seller will accept $10,000 less than the listed price. Which duty has the licensee violated?

Question

Joel Buchanan

Business

13 October, 07:42

A transaction broker discloses to a buyer who is considering making an offer on listed property that the seller will accept $10,000 less than the listed price. Which duty has the licensee violated?

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Answers (1)

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Reese Marshall · Answer 1

Limited confidentiality

Explanation:

The exercise of limited confidentiality means that the individuals who are intended to have limited confidentiality exercise must not disclose the facts or the information that are included in the aspect of confidentiality.

Confidentiality refers to the limitation of the data or information being shared to the enclosed group of people within the limited entities.

Here, the information that should remain between the seller and broker (i. e the price at which the seller can accept the offer) has been disclosed to the buyer.

Hence, the exercise of limited confidentiality has been violated by the licensee.