BC Real Estate Trading Services Licensing Exam Practice · Question
What is the legal implication if a real estate agent engages in a 'blind bid' (submitting an offer without informing the buyer of other submitted offers) when representing a buyer?
A 'blind bid' where the agent withholds information about competing offers from their buyer client would be a breach of the agent's fiduciary duty to disclose a
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Question: What is the legal implication if a real estate agent engages in a 'blind bid' (submitting an offer without informing the buyer of other submitted offers) when representing a buyer?
Answer options:
- It is a standard industry practice, generally accepted. ✅ It is a breach of the agent's fiduciary duty to the buyer.
- It only applies if the agent also represents the seller.
- It is permissible as long as the agent secures the property for the best possible price.
Correct answer: It is a breach of the agent's fiduciary duty to the buyer.
Explanation: A 'blind bid' where the agent withholds information about competing offers from their buyer client would be a breach of the agent's fiduciary duty to disclose all material facts and act in the client's best interest.
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Question explanations
- A developer, Grandview Developments Ltd., plans to build a new condominium project in Kelowna. They register a
- Michael, a real estate licensee, is assisting his client Jane in purchasing a commercial property at 123 Main
- A buyer, David, has entered into a Contract of Purchase and Sale for a vacant lot in Tofino. David's lawyer di
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