PSI Oklahoma Real Estate Practice Test

Under what condition can confidential information be released?

1. The party gives consent to the disclosure in writing.

2. The seller makes a counteroffer.

3. The information is requested by a government entity.

4. It is shared verbally with the buyer.

The correct answer is: The party gives consent to the disclosure in writing.

Confidential information in real estate transactions is protected by fiduciary duties, which mandate that agents must keep clients' sensitive information private. The release of such confidential information is permitted only when the concerned party provides their explicit consent. When a party gives written consent for disclosure, it respects their autonomy and legal rights, ensuring that they fully understand what information may be shared and with whom. The other conditions, such as a counteroffer or a request from a government entity, do not automatically grant permission to disclose confidential information without the client's consent. Likewise, sharing information verbally with a buyer without explicit consent can breach the trust and fiduciary responsibility owed to the client. Thus, written consent stands as the key condition under which confidential information can be lawfully released.