According to real estate principles, who is responsible for reporting wrong information if they should have known?

In real estate transactions, agents have a duty to ensure that the information communicated to potential buyers is accurate and truthful. This responsibility stems from the fiduciary duty that agents owe to their clients, which includes the obligation to act in the client's best interest and to provide information that they should know as professionals in the field.

If an agent is aware of incorrect information – or should reasonably have known it through due diligence – they are responsible for disclosing this information correctly. This includes anything from property condition to financial statements. If they fail to do so, they could face legal consequences for misrepresentation or negligence.

While sellers and principals also have responsibilities related to the accuracy of the information they provide, agents bear a distinct responsibility to verify and accurately relay information. Thus, in the context of who is accountable for reporting wrong information, agents hold that key responsibility, as they are expected to possess the knowledge and expertise to identify inaccuracies.