When a broker represents only a buyer, what duty does the buyer owe to the seller?

When a broker represents only a buyer, what duty does the buyer owe to the seller?

• A. Loyalty
• B. Honesty
• C. Accountability
• D. Confidentiality

Answer: (B)

In the context of real estate transactions, when a broker exclusively represents a buyer, the buyer has a duty to be honest with the seller. This obligation of honesty is important for maintaining transparent and fair dealings throughout the transaction process. While the primary responsibilities lie in the broker's fiduciary duties to the buyer, any statements or representations made by the buyer during negotiations still require truthfulness. The buyer's honesty serves to foster trust in the negotiations and is essential for the integrity of the transaction. Misrepresentation or concealment of material facts could lead to legal issues and harm the relationship between the buyer and seller. Thus, although the buyer has various ethical duties, honesty stands out as a fundamental obligation, ensuring that the seller is informed and aware throughout the selling process.

In the context of real estate transactions, when a broker exclusively represents a buyer, the buyer has a duty to be honest with the seller. This obligation of honesty is important for maintaining transparent and fair dealings throughout the transaction process. While the primary responsibilities lie in the broker's fiduciary duties to the buyer, any statements or representations made by the buyer during negotiations still require truthfulness.

The buyer's honesty serves to foster trust in the negotiations and is essential for the integrity of the transaction. Misrepresentation or concealment of material facts could lead to legal issues and harm the relationship between the buyer and seller. Thus, although the buyer has various ethical duties, honesty stands out as a fundamental obligation, ensuring that the seller is informed and aware throughout the selling process.