What is a broker required to disclose regarding material defects in a property?

A broker is required to disclose all known material defects in a property because this duty is rooted in the principle of transparency and ethical dealings in real estate. Material defects are any issues that significantly affect the value, desirability, and safety of a property, meaning they could influence a buyer's decision to purchase.

This requirement ensures that buyers are fully informed about the condition of a property before making a commitment. Full disclosure is vital in fostering trust between the buyer and the broker, and it helps to protect the broker from potential legal issues arising from non-disclosure of significant issues.

The importance of disclosing all known material defects goes beyond just structural issues; it encompasses a wide range of concerns, including but not limited to plumbing problems, problems with electrical systems, mold issues, or any other significant flaw that could impact the overall integrity and usability of the property. By disclosing all known material defects, the broker helps the buyer make an informed decision, leading to a fairer and more honest real estate transaction.