10.17 Non-Disclosure

Related to misrepresentation is the concept of disclosure or non-disclosure of a material fact. As a rule, the real estate licensee has a duty to disclose facts that are material to the prospective purchaser. Material facts are those that would be likely to affect the conduct of a reasonable person. While some material facts are a matter of law, others will vary with the facts of each transaction. A fact is material if the offering party would not have entered the contract or would have contracted for less had the fact been known. Company policy is to disclose all material facts at all times to any type of client represented.