A real estate professional is acting under a Transaction Brokerage Agreement for both a buyer and a seller. The seller asks if the buyer requires selling their current property to finance this purchase. The buyer previously mentioned to the professional that they have a firm offer on their existing home, but it contains a 'financing condition.' What can the professional accurately disclose to the seller?

Question: A real estate professional is acting under a Transaction Brokerage Agreement for both a buyer and a seller. The seller asks if the buyer requires selling their current property to finance this purchase. The buyer previously mentioned to the professional that they have a firm offer on their existing home, but it contains a 'financing condition.' What can the professional accurately disclose to the seller?

Answer options: ✅ The professional can only state what the buyer has authorized them to disclose

• The professional must disclose the buyer's specific financing condition as it impacts the transaction
• The professional should advise the seller that they cannot comment on the buyer's financial specifics
• The professional can confirm the buyer has an offer on their property, but not the contents of the conditions

Correct answer: The professional can only state what the buyer has authorized them to disclose

Explanation: In a transaction brokerage relationship, a professional cannot disclose any confidential information that might harm the bargaining position of either party without their express consent. The mere existence of a condition, even financing, could be considered confidential if not authorized for disclosure by the buyer, adhering to RECA's standards for transaction brokerage.