Virginia State Real Estate Exam Practice Question
A listing licensee would be in violation of the Real Estate Board Regulations if which of the following facts known by him were NOT disclosed to the buyers?
Correct Answer: C
Rationale: A listing licensee must adhere to regulations regarding disclosure to ensure transparency and protect buyers.
Option C, concerning the terms of other offers, is a violation because it compromises the confidentiality and fairness in negotiations, undermining the buyer's ability to make informed decisions.
Option A, about the shopping center, is a material fact that should be disclosed, but it doesn't directly affect the property's condition.
Option B, regarding a crime on the premises, is often required to be disclosed, as it can impact the buyer's perception of safety.
Option D, the discovery of termites, is a significant issue affecting property value and safety, thus necessitating disclosure.
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