An Alaska seller's agent receives an offer well below the listing price. The agent should:
Why Present all offers to the seller promptly regardless of price Is Correct
Answer B: Present all offers to the seller promptly regardless of price
Exam Tip: Agency
Agency questions are among the most tested on the exam. Focus on the difference between client and customer, and memorize the fiduciary duties (OLD CAR). Watch for questions that try to blur the line between a general agent and a special agent.
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- An Alaska buyer's agent presents an offer below the listing price. The listing agent tells the buyer's agent that the seller 'needs to get at least $10,000 more than this offer.' This disclosure by the listing agent violates:Agency
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Key Terms to Know
A legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
Dual AgencyA situation where a single real estate agent or brokerage represents both the buyer and the seller in the same transaction.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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