1. QUESTION 1: Confidentiality An agent had property listed as a Designated Agent and it expired unsold. Now the same agent is representing a buyer on the same property, also as a Designated Agent. What can be said about confidential information obtained while the agent had it listed? Next

2. Answer No confidential information may be disclosed without permission from the former client except under certain circumstances, as defined by the statute. Confidential information must be guarded and protected by an agent. Disclosure of confidential information will generate significant liability for any licensee. However, if any of the following occur at any time, information that would otherwise be considered confidential will no longer be considered confidential information: 1. The client permits the disclosure by word or conduct. 2. The disclosure is required by law or would reveal a serious defect. 3. The information becomes public from a source other than the licensee. Also, material information about the physical condition of property is not considered confidential information. In addition, items defined as non-material under law must not be revealed. It does not matter whether or not it is deemed to be confidential (such as disclosure of whether a suicide had occurred on the premises.) NextPrevious

3. QUESTION 2: CMA Can a Designated Agent of the buyer provide comparable sales information (CMA) to the buyer? NextPrevious

4. Answer Yes. Comparable sales are public record. The Designated Agent can also provide purchase advice to help the buyer acquire the property under the best terms and conditions. (Section 3893) NextPrevious

5. Case Study 1 Dual Agent Transition to Designated Agency Agent Jean Luc was representing Buyer Deanna and Seller Beverly as a Dual Agent, with written authority from all parties. Beverly withdrew from the transaction. Deanna wants to continue and look for other properties with Jean Luc. What is the agency relationship of the parties? NextPrevious

6. Analysis The agent (Jean Luc) may continue to represent the buyer (Deanna) on other properties. Confidentiality still applies regarding information learned from the seller during the prior relationship. Deanna can start the search again. (Section 3895) NextPrevious