Final answer:
A real estate broker is required by law to disclose any known material information about the transaction to their client. This ensures the client can make informed decisions and maintains the broker's fiduciary duty. Other items like the broker's resume or opinion of value are not mandated disclosures. Option 2 is correct answer.
Step-by-step explanation:
When it comes to the duties of a real estate broker, disclosure is a fundamental component, ensuring transparency and ethical conduct with their clients. In the real estate industry, it is crucial for brokers to disclose any known material information about the transaction to their client.
Known material information encompasses various types of data that could influence a client's decision-making process during a real estate transaction. This information can include but is not limited to, defects in the property, the presence of environmental hazards, zoning issues, or legal disputes affecting the property. By disclosing this information, brokers maintain their fiduciary duty to act in the best interest of their clients.
While a broker’s resume and their opinion of value can provide additional context to the client, these elements are not typically mandated disclosures. The broker's resume is more relevant to prove their qualifications and experience to a potential client, and their opinion of value, while valuable, is subjective and does not hold the same weight as an official appraisal or market analysis.
In conclusion, of the choices provided, brokers are required to disclose any known material information about the transaction. Such disclosure is critical to protecting the clients' interests and ensuring that they are making well-informed decisions.