What does full disclosure mean in real estate?

Full disclosure in real estate refers to the obligation of a seller, agent, or broker to reveal all known facts that could potentially affect the value or desirability of a property. This includes disclosing any issues such as structural problems, environmental concerns, or title defects that could influence a buyer's decision or the property's marketability. By ensuring that all relevant information is shared, full disclosure promotes transparency and helps to build trust in the transaction process.

The other options do not accurately reflect the meaning of full disclosure. For instance, sharing agency commissions addresses financial arrangements rather than property conditions, discussing personal information of buyers pertains to privacy issues and does not relate to property valuation, and collecting fees for services rendered concerns compensation but is not relevant to the disclosure of property-related facts. Full disclosure specifically focuses on transparency regarding the state of the property and any factors that may impact its value.