Subscribe to Guide
No Result
View All Result
Hamptons.com
  • Spotlight Magazine
  • Lifestyle
    • Featured
    • Entertainment
    • Arts
    • Community
    • Dining
    • Recreation
    • Trending
  • Events
    • Events Calendar
    • Post an Event
    • Gallery
  • Real Estate
    • Real Estate Features
    • Search Real Estate
      • Open Houses
      • Search Sales
      • Search Rentals
    • Title Insurance
    • Happening In The Hamptons Podcast
  • Live Cameras
    • All Live Cameras
    • Live Weather Cams
    • Amagansett, Atlantic Avenue Beach
    • Bridgehampton, West Scott Cameron Beach
    • East Hampton Village, Main Beach
    • East Hampton Village, Main Street
    • East Hampton Village, Newtown Lane
    • Hampton Bays, Ponquogue Beach
    • Hampton Bays, Ponquogue Bridge
    • Hampton Bays, Shinnecock Fishing Dock
    • Hampton Bays, Tiana Beach
    • Long Island Aquarium | Coral Reef
    • Long Island Aquarium | Penguins
    • Long Island Aquarium | Shark Tank
    • Montauk, Downtown Circle
    • Montauk, Lars Simenson Skatepark
    • Montauk, Gin Beach & Inlet
    • Montauk, Sunset Beach & Inlet
    • Sagaponack, Sagg Main Beach
    • Sag Harbor, Foster Memorial Beach
    • Sag Harbor, Long Wharf Marina
    • Sag Harbor, Main Street (South)
    • Sag Harbor, Windmill Beach & Bay
    • Shelter Island, South Ferry
    • Southampton, 39A to Montauk Hwy Merge
    • Southampton, Conscience Point Marina
    • Southampton Village, Coopers Beach
    • Southampton Village, Main Street (South)
    • Southampton Village, Main Street (North)
    • Southampton Village, Main Street (Hildreths)
    • Westhampton Village, Main Street (East)
    • Westhampton Village, Rogers Beach
  • Public WiFi
    • Public WiFi Map
    • Public Wi-Fi Support
  • Spotlight Magazine
  • Lifestyle
    • Featured
    • Entertainment
    • Arts
    • Community
    • Dining
    • Recreation
    • Trending
  • Events
    • Events Calendar
    • Post an Event
    • Gallery
  • Real Estate
    • Real Estate Features
    • Search Real Estate
      • Open Houses
      • Search Sales
      • Search Rentals
    • Title Insurance
    • Happening In The Hamptons Podcast
  • Live Cameras
    • All Live Cameras
    • Live Weather Cams
    • Amagansett, Atlantic Avenue Beach
    • Bridgehampton, West Scott Cameron Beach
    • East Hampton Village, Main Beach
    • East Hampton Village, Main Street
    • East Hampton Village, Newtown Lane
    • Hampton Bays, Ponquogue Beach
    • Hampton Bays, Ponquogue Bridge
    • Hampton Bays, Shinnecock Fishing Dock
    • Hampton Bays, Tiana Beach
    • Long Island Aquarium | Coral Reef
    • Long Island Aquarium | Penguins
    • Long Island Aquarium | Shark Tank
    • Montauk, Downtown Circle
    • Montauk, Lars Simenson Skatepark
    • Montauk, Gin Beach & Inlet
    • Montauk, Sunset Beach & Inlet
    • Sagaponack, Sagg Main Beach
    • Sag Harbor, Foster Memorial Beach
    • Sag Harbor, Long Wharf Marina
    • Sag Harbor, Main Street (South)
    • Sag Harbor, Windmill Beach & Bay
    • Shelter Island, South Ferry
    • Southampton, 39A to Montauk Hwy Merge
    • Southampton, Conscience Point Marina
    • Southampton Village, Coopers Beach
    • Southampton Village, Main Street (South)
    • Southampton Village, Main Street (North)
    • Southampton Village, Main Street (Hildreths)
    • Westhampton Village, Main Street (East)
    • Westhampton Village, Rogers Beach
  • Public WiFi
    • Public WiFi Map
    • Public Wi-Fi Support
No Result
View All Result
Hamptons.com
September 13, 2019

Real Estate Brokers’ Fiduciary Responsibilities To Clients Include Confidentiality – What Does That Mean?

John A. Viterittiby John A. Viteritti
in Real Estate
Home Real Estate

I think the best way to approach this topic is anecdotally rather than theoretically.

This scenario might shed some light on the subject.

Tim, an agent with “Splendid Realty,” gets a listing from Jones who is selling his house. Tim and all the agents at “Splendid Realty” are representing Jones and therefore have a fiduciary responsibility to Jones even though Tim is the only one who has met Jones.

All the “Splendid” agents have potential buyers who they have gotten to know well. These buyers have been loyal to them, haven’t worked with any other realtors, have made reasonable offers but have always lost out to other buyers. But the “Splendid” agents don’t represent these buyers, they represent Jones.

Here are some common questions their buyers might ask when those agents show them the Jones house.

Q. Why is Jones selling?

A. He’s moving to Florida and needs the money from the sale of this house to close on the one in Florida.

Q. Has Jones had any offers?

A. Yes, but all were either below what he’s asking, or the buyers couldn’t get the mortgages.

Q. Do you think Jones is anxious to sell and might take less?

A. He might. If he can’t sell this house before he must close on the one in Florida, he risks losing his deposit on that one.

These are perfectly reasonable questions for buyers to ask but if the “Splendid” agents were to answer as they did in this scenario, they would have violated the confidentially required by their fiduciary responsibilities to Jones.

How could they have answered respecting their duty of confidentiality to Jones and honesty to the buyer? When Tim first met with Jones, he could have advised him that buyers usually ask why the owner is selling, and rather than say I don’t have permission to tell you that, an answer that conjures up all sorts of reasons in the minds of the buyers far worse than the reason for selling.

Has Jones had any offers? Yes, but none that met all his terms.

Do you think Jones will accept less than the list price? I don’t know, but I suggest you make an offer and find out.

The context for these hypothetical examples is contained in National Association of Realtors definition of Confidentiality. “A real estate broker, therefore, must keep confidential any information that might weaken his principal’s bargaining position if it were revealed. The duty of confidentiality precludes a broker representing a seller from disclosing to a buyer that the seller can, or must, sell the property below the listed price.”

However, the NAR also offers the following caveat: ” This duty of confidentiality plainly does not include any obligation on a broker representing a seller to withhold from a buyer known material facts concerning the condition of the seller’s property or to misrepresent the condition of the property. To do so would constitute misrepresentation and would impose liability on both the broker and the seller. This obligation of the broker is addressed in the License Law of New York State and the Court of Appeals, New York’s highest court, has long recognized the Legislature’s intent to give to the Department of State the authority to regulate real estate brokers and their agents, including imposing financial penalties, suspension, and revocations of licenses, as well as the return of commissions earned from the transaction.”

If “Splendid” engages the support of realtors from other brokerage firms to try to sell Jones’ property, which is the common practice, the agents of those other brokerage firms also owe their fiduciary responsibility to Jones.

When representing buyers, real estate agents affiliated with the brokerage firm representing the buyer owe their fiduciary responsibility to the buyer, including confidentiality, and must act in the best interests of the buyer. If they know the seller will accept less than the list price, is under pressure to sell, has lost deals with other buyers, the broker representing the buyer must disclose those facts to the buyer. Conversely, as with sellers and their brokers, the broker representing the buyer must disclose to the seller any known facts that would affect an offer to purchase the property. Examples would be the fact that the buyer has a house to sell before they could complete the purchase with the buyer, that they are in bankruptcy, must finance the purchase with a loan, or when they would be prepared to take title.

Following our Jones/”Splendid Realty” scenario, a special dilemma arises when Jones, after his house is sold by “Splendid,” wants to look at houses listed with “Splendid Realty” by other of their clients with the intention of purchasing one of those homes. The Department of State warns that the broker’s obligation of confidentiality to Jones has not ended, even though the agency relationship has and advises before “Splendid” shows homes of their seller/clients to Jones, “Splendid” act as either a Dual Agent of Jones and “Splendid’s” seller/clients or as a Buyer’s Agent of Jones.

The License Law of New York requires real estate agents to inform customers and clients of these relationships and duties and receive their informed written consent to them. It is imbedded in Section 443 of the license Law, Agency Disclosure.

An article was posted on this website on June 8, 2015 that provides greater detail regarding disclosure of agency under Section 443 of New York’s Real Property Law. Since the posting of that article, real estate agents are required to complete at least one hour of course work in Agency Disclosure every two years as part of their twenty-two and a half hours of continuing education necessary to renew their licenses. Agents renewing their license for the first time must complete two hours.

Sign up for our weekly newsletter!

Get the top Hamptons events and latest scoop!

What's Happening in the Hamptons

Related Posts

Timeless Shelter Island Estates Blend Historic Integrity with Enduring Design
Real Estate

Timeless Shelter Island Estates Blend Historic Integrity with Enduring Design

June 25, 2025
Hamptons Real Estate Market Data – Week of 6/17/2025
Real Estate

Hamptons Real Estate Market Data – Week of 6/17/2025

June 24, 2025
Chic, Brand New Rental in East Hampton
Real Estate

Chic, Brand New Rental in East Hampton

June 24, 2025

Search Articles

No Result
View All Result

LOCAL EVENTS

Events

26
Jun
26
Jun
-
26
Jun

Building History: Halsey House Tour

June 26 @ 11:00 AM - June 26 @ 12:00 PM
Halsey House & Garden, 249 S Main Street, Southampton, NY 11968
26
Jun
26
Jun
-
26
Jun

Pride and Friendship Bracelets

June 26 @ 04:00 PM - June 26 @ 05:00 PM
2478 Main Street Bridgehampton ny 11932
26
Jun
26
Jun
-
26
Jun

HamptonsOfficeWorks – Networking Cocktail Hour

June 26 @ 04:30 PM - June 26 @ 06:30 PM
53 Hill Street Southampton, NY 11968
26
Jun
26
Jun
-
26
Jun

Film Screening: The Weight of Memory: I Am Bernie Furshpan

June 26 @ 05:00 PM - June 26 @ 06:30 PM
Avram Theater - Stony Brook Southampton
26
Jun
26
Jun
-
26
Jun

Live Music At The Clubhouse: James Ryan

June 26 @ 06:00 PM - June 26 @ 09:00 PM
The Clubhouse 174 Daniels Hole Road East Hampton, NY, 11937
Load more listings
Next Post
Nine Reasons To Remodel Your Home

Nine Reasons To Remodel Your Home

  • On Saturday, June 21st, Palm Tree Crew returned to the Hamptons for the fifth-annual Palm Tree Music Festival, the hottest summertime event on the East End. 

This year’s festival, featuring REVOLVE among its standout sponsors, brought together a legendary lineup of performers including Palm Tree Crew co-founder Kygo, Fisher, and Mau P, alongside Blond:ish, Coco + Breezy, Tinx & Lucas, Benjamin Lloyd, and Beau Cruz.

#hamptons #palmtreemusicfestival #kygo #fisher #blondish #cocoandbreezy #benjaminlloyd #beaucruz #southampton #musicfestival
  • Antiques have a fresh new home in the Hamptons as Zoe Hoare, a celebrated antiques expert and interior designer, opens her first-ever storefront at 2487 Main Street. After years of curating rare treasures for clients across Sydney, London, and beyond, Zoe brings her signature blend of old-world charm and global style to the heart of Bridgehampton.⁠
⁠
Located in the Malia Mills annex, Hoare & Hoare Antiques, is a dream for vintage lovers and design enthusiasts alike. From 18th and 19th century European finds, to playful, affordable decor, every piece has a story. Think: blue and white enamel kitchenware from France, hand-dyed table linens in candy hues, and butter-soft Indian cashmere scarves. Zoe’s unique eye even extends to fashion, with vintage French work jackets and overalls that are right on trend.⁠
⁠
“I’ve always had a passion for finding pieces with stories and character,” says Zoe. “Every item in my collection is something that sparks joy, whether it’s a beautifully worn French enamel pot, a vintage work jacket, or a hand-dyed tablecloth. I want my store to feel like a treasure hunt, full of unexpected finds and nostalgic charm.”⁠
⁠
@hamptonsnystyle⁠
@hoareandhoareantiques⁠
⁠
Read the full article at Hamptons.com (Link in Bio)⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#hoareantiques #antiques #bridgehampton #zoehoare #thehamptons
  • 5 White Oak Lane, Southampton, NY 11968⁠
Saunders Exclusive: $4,995,000⁠
⁠
@vinceinthehamptons⁠
@drewgreenhamptons⁠
@hamptonsrealestate⁠
@paramountdevelopmentgroup⁠
⁠
⁠
Discover unparalleled luxury living in this magnificent new construction from Paramount Development Group.⁠
⁠
This spectacular residential property boasts 7 bedrooms, 5 full baths, and 1 half bath spread across 4,929 +/- sq. ft. of meticulously designed space.⁠
⁠
Nestled on 0.98 acres of pristine land, this newly constructed masterpiece offers a haven of elegance and comfort. ⁠
⁠
Built in 2024, the residence spans two stories with an additional 1,438 square feet of finished lower level space.⁠
⁠
Read the full article at Hamptons.com (Link in Bio)⁠
.⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#hamptons #realestate #newconstruction #luxury #southampton
  • When it comes to dining out in the Hamptons, there is no shortage of restaurants to choose from. While there are not many vegan-exclusive establishments, there are still plenty of options for plant-based eating in the Hamptons, with more joining the culinary scene all the time.⁠
⁠
⁠
WESTHAMPTON⁠
🥑 Local Provisions – Smoothies, specialty toast, and local love⁠
🌮 Funchos – Vegan tacos & burritos with outdoor seating⁠
🍝 Baby Moon – Vegan-friendly pastas (get the eggplant!)⁠
🍷 Salt & Loft – Chic setting with salads, pasta, and a Beyond burger⁠
⁠
EAST QUOGUE⁠
🍱 Tony’s Fusion – Top-tier tofu dishes, veggie curry, and sweet potato rolls⁠
⁠
HAMPTON BAYS⁠
🥢 Matsulin – Asian fusion, mock meats & killer peanut sauce⁠
☕ Hampton Coffee Co. – Beyond breakfast sandwich, smoothies, & a “Happy Wrap”⁠
⁠
SOUTHAMPTON⁠
🥪 Four Oaks – All-day vegan eats & organic juices⁠
🍛 Saaz – Authentic Indian with tons of vegan options + lunch buffet!⁠
⁠
BRIDGEHAMPTON & WATER MILL⁠
🍣 Yama Q – Cozy sushi spot with veg rolls and tofu entrees⁠
🇫🇷 Bistro Ete – Fresh vegan zucchini spaghetti⁠
🇬🇷 Elaia Estiatorio – Greek small plates, spreads, and salads⁠
⁠
SAG HARBOR⁠
🥗 Provisions – Café + health market, tons of vegan dishes⁠
🌾 Page at 63 Main – Upscale, with vegan bowls & salads⁠
🌮 Estia’s Little Kitchen – Casual breakfast/lunch, kitchen garden fresh⁠
🍜 Sen – Modern Japanese with rice/noodle dishes & veg sushi⁠
⁠
EAST HAMPTON & AMAGANSETT⁠
🥟 Hampton Chutney Co. – Indian dosas, thali, and oat chai⁠
🍲 Kumiso – Tokyo-inspired ramen & veg izakaya vibes⁠
⁠
 MONTAUK⁠
🥙 Naturally Good Café – Smoothies, juices & vegan breakfast⁠
🍽 Joni’s Kitchen – Tofu scrambles, stir-fry, smoothies & steps from the beach!⁠
⁠
Cover: @localprovisionswhb⁠
⁠
View the complete guide at Hamptons.com (Link in Bio)⁠
⁠
#hamptons #dining #vegan #weekend #montauk #westhampton
  • Sushi by Boū will offer just eight seats per table, a truly unique and memorable sushi experience inside Sydney’s “Taylor” Made Cuisine in Westhampton Beach. 

@sushibybou_westhampton 

#sushi #omakase #hamptons #dining #westhampton
  • Who’s excited for the Palm Tree Music Festival! ⁠
⁠
Check out the Top Hamptons Events This Weekend!⁠
⁠
🎶 5th Annual Palm Tree Music Festival⁠
📅 Saturday, June 21st | 🕑 2pm – 11pm⁠
📍 Shinnecock Indian Territory, Southampton⁠
🌴 Iconic music + luxury vibes + brand activations.⁠
📸: Rob Rich/SocietyAllure.com ©2025⁠
⁠
🛍️ Female Founders Market at The HUB⁠
📅 Saturday, June 21st | 🕘 9am – 6pm⁠
📍 2183 Montauk Hwy, Bridgehampton⁠
✨ Shop curated female-founded Hamptons brands.⁠
⁠
👡 Dolce Vita Pop-Up in Southampton⁠
📅 June 20–22 | 🕚 11am – 3pm daily⁠
📍 95 Main Street, Southampton⁠
🎨 Art, summer style, and new drops each month!⁠
⁠
👜 Kulson Pop-Up at Sage & Madison⁠
📅 Friday, June 20th | 🕒 3pm – 6pm⁠
📍 31 Madison Street, Sag Harbor⁠
🥂 Sip + shop Kulson’s Summer Capsule Collection.⁠
⁠
🍦 BuddhaBerry x Stocked Pop-Up⁠
📅 Friday, June 20th | 🕛 12pm – 5pm⁠
📍 125 Main St, Sag Harbor⁠
🍪 Salted cookie + froyo collab = YUM.⁠
⁠
👜 Hamptons Handbag Festival⁠
📅 Sunday, June 22nd | 🕙 10am – 5pm⁠
📍 15 Montauk Hwy, East Hampton⁠
👜 From vintage to designer. All price points.⁠
⁠
📚 Author Talk: Nellie Sciutto⁠
📅 Saturday, June 21st | 🕕 6pm – 7:30pm⁠
📍 East Hampton Library⁠
🎬 Hear Hollywood tales + get your book signed!⁠
⁠
🎭 Colin Quinn at WHBPAC⁠
📅 Friday, June 20th | 🕗 8pm⁠
📍 76 Main St, Westhampton Beach⁠
😂 Big laughs with the comedy legend.⁠
⁠
🎶 Ghost-Note at Talkhouse⁠
📅 Saturday, June 21st | 🕗 8pm⁠
📍 Stephen Talkhouse, Amagansett⁠
🔥 Don’t miss this epic jam session.⁠
⁠
🥾 Penny Pond Hike⁠
📅 Sunday, June 22nd | 🕤 9:30am – 11:30am⁠
📍 Meet at Red Creek Rd, Hampton Bays⁠
🌲 A beautiful trail to start your Sunday.⁠
⁠
Check out more events at Hamptons.com (Link in Bio)⁠
.⁠
.⁠
.⁠
.⁠
.⁠
#palmtreemusicfestival #hamptons #colinquinn #hub #dolcevita #weekend
Facebook Twitter Instagram Youtube
Hamptons.com

Saunders Broadcasting Corp.

Phone: 631-613-8440
Email: [email protected]
Facebook: Facebook.com/HamptonsOnline
Twitter: @Hamptons
Instagram: @HamptonsOnline

About Us | Contact Us

Hamptons.com

  • Lifestyle
  • Events
  • Real Estate
  • Live Cameras
  • Public WiFi

Subscribe

Sign up for our weekly newsletter!

Get the top Hamptons events and latest scoop!

© 2025 Hamptons.com | All rights reserved
Saunders Broadcasting Corp.
Terms & Conditions | Privacy Policy | About Us | Contact Us

No Result
View All Result
  • Spotlight Magazine
  • Lifestyle
    • Featured
    • Entertainment
    • Arts
    • Community
    • Dining
    • Recreation
    • Trending
  • Events
    • Events Calendar
    • Post an Event
    • Gallery
  • Real Estate
    • Real Estate Features
    • Search Real Estate
      • Open Houses
      • Search Sales
      • Search Rentals
    • Title Insurance
    • Happening In The Hamptons Podcast
  • Live Cameras
    • All Live Cameras
    • Live Weather Cams
    • Amagansett, Atlantic Avenue Beach
    • Bridgehampton, West Scott Cameron Beach
    • East Hampton Village, Main Beach
    • East Hampton Village, Main Street
    • East Hampton Village, Newtown Lane
    • Hampton Bays, Ponquogue Beach
    • Hampton Bays, Ponquogue Bridge
    • Hampton Bays, Shinnecock Fishing Dock
    • Hampton Bays, Tiana Beach
    • Long Island Aquarium | Coral Reef
    • Long Island Aquarium | Penguins
    • Long Island Aquarium | Shark Tank
    • Montauk, Downtown Circle
    • Montauk, Lars Simenson Skatepark
    • Montauk, Gin Beach & Inlet
    • Montauk, Sunset Beach & Inlet
    • Sagaponack, Sagg Main Beach
    • Sag Harbor, Foster Memorial Beach
    • Sag Harbor, Long Wharf Marina
    • Sag Harbor, Main Street (South)
    • Sag Harbor, Windmill Beach & Bay
    • Shelter Island, South Ferry
    • Southampton, 39A to Montauk Hwy Merge
    • Southampton, Conscience Point Marina
    • Southampton Village, Coopers Beach
    • Southampton Village, Main Street (South)
    • Southampton Village, Main Street (North)
    • Southampton Village, Main Street (Hildreths)
    • Westhampton Village, Main Street (East)
    • Westhampton Village, Rogers Beach
  • Public WiFi
    • Public WiFi Map
    • Public Wi-Fi Support

© 2025 Hamptons.com | All rights reserved
Saunders Broadcasting Corp.
Terms & Conditions | Privacy Policy | About Us | Contact Us