Intermediary Consent and a Buyer's Confidential Bottom Line
Marta is a licensee with Wind River Realty in Powell. She is the designated agent for buyer Owen. Wind River also has the listing on the only house Owen wants, listed at $325,000. Owen tells Marta privately that he will pay up to $310,000 but wants to start at $295,000. Marta also learns from the listing side that the seller would take $300,000. Marta's cousin wants to buy a different property that Marta has listed. Owen asks Marta to 'just tell me what the seller will really take.' The brokerage has a signed agency disclosure from Owen but no intermediary consent.
1. Can Wind River act as an intermediary or dual agent here? What written disclosures and consents are needed before Marta can continue?
Read the worked answer
Wind River may act as an intermediary only with informed written consent of both Owen and the seller, and Wyoming requires the agency relationship and the change to be disclosed in writing. The existing buyer agency disclosure is not enough. Before proceeding, the broker must give each party a written intermediary disclosure explaining that the firm represents both, that confidential information will not be passed between them, and that neither side will receive undivided loyalty or advocacy. If either party refuses, the firm must withdraw from one side and refer that party to another brokerage. Marta should not continue to take confidential buyer information while the firm also holds seller information without that consent.
2. Owen asks what the seller will really take. How should Marta respond, and why?
Read the worked answer
She must not answer. The seller's willingness to accept $300,000 came from the listing side and is confidential. As an intermediary, Marta cannot use one party's confidential information to benefit the other, and she cannot disclose it even if it would help her buyer. She can say that she cannot reveal the seller's bottom line, then help Owen using public market data, comparable sales, and his own budget. She should document the request and her refusal. If Owen wants aggressive advice based only on his interests, he needs an agent at a different firm.
3. Marta's cousin wants to buy a property Marta has listed. What duties and disclosures apply?
Read the worked answer
Marta must disclose the family relationship in writing to the seller and to her cousin before any offer. If she represents the seller, the cousin should be represented by a different licensee or should knowingly waive representation in writing. Marta cannot use seller confidences to help her cousin, and she cannot quietly buy the listing herself without written disclosure and consent. The broker should decide whether the conflict is manageable; if not, another licensee should handle the sale. The key is informed written consent plus a consistent rule that the seller's confidential information is not used for the cousin's benefit.