Michigan Real Estate Exam Practice Question
There is an agency relationship in the sale. The broker has the property listed. A buyer who is a customer needs to move soon. The broker must disclose to the seller:
Correct Answer: A
Rationale: In an agency relationship, the broker has a duty to act in the best interest of the seller. This includes disclosing information that could influence the seller’s decision. The buyer's urgent need to move (Option A) is pertinent, as it may affect the seller's negotiation strategy or willingness to make concessions.
Options B, C, and D provide general information about the property’s location but do not impact the seller’s decision-making process regarding the sale. These details, while relevant to potential buyers, do not constitute a necessary disclosure that would influence the seller's interests.
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