California real estate disclosure laws California Real Estate Disclosures | Page 36

An agent is not obligated to reveal to either party any confidential information
obtained from the other party which does not involve the affirmative duties set
forth above.
BUYER’S AGENT
A selling agent can, with a Buyer’s consent, agree to act as agent for the Buyer
only. In these situations, the agent is not the Seller’s agent, even if by agreement
the agent may receive compensation for services rendered, either in full or in part
from the Seller. An agent acting only for a Buyer has the following affirmative
obligations:
To the Buyer:
(a) A fiduciary duty of utmost care, integrity, honesty, and loyalty in dealings
with the Buyer.
To the Buyer and the Seller:
(a) Diligent exercise of reasonable skill and care in performance of the agent’s
duties.
(b) A duty of honest and fair dealing and good faith.
(c) A duty to disclose all facts known to the agent materially affecting the value
or desirability of the property that are not known to, or within the diligent attention
and observation of, the parties. An agent is not obligated to reveal to either party
any confidential information obtained from the other party which does not involve
the affirmative duties set forth above.
AGENT REPRESENTING BOTH SELLER AND BUYER
A real estate agent, either acting directly or through one or more associate
licensees, can legally be the agent of both the Seller and the Buyer in a
transaction, but only with the knowledge and consent of both the Seller and the
Buyer.
In a dual agency situation, the agent has the following affirmative obligations to
both the Seller and the Buyer:
(a) A fiduciary duty of utmost care, integrity, honesty and loyalty in the dealings
with either the Seller or the Buyer.
(b) Other duties to the Seller and the Buyer as stated above in their respective
sections.
In representing both Seller and Buyer, the agent may not, without the express
permission of the respective party, disclose to the other party that the Seller will
accept a price less than H\