Final answer:
Licensees must disclose material facts to potential buyers even if the seller wishes to keep them private; failing to do so is against the law and can have serious consequences for the licensee.
Step-by-step explanation:
If a seller asks a licensee to keep a material fact undisclosed, the licensee does not have a duty to keep this information from potential buyers. This statement is false. In real estate and other licensed professions, disclosure of material facts that could affect the valuation or desirability of a property is a legal requirement. A licensee must disclose these facts to potential buyers, even if the seller wishes to keep them private. Failing to disclose a material fact can lead to legal consequences for the licensee, including loss of license or legal action from the buyer. The answer to the question is False. In real estate, a licensee, such as a real estate agent, has a fiduciary duty to act in the best interest of their client, which is usually the seller. This duty includes the duty to disclose material facts to the seller. If the seller asks the licensee to keep a material fact between them, the licensee still has a duty to disclose that information to the seller's detriment.