Agency
A seller's agent receives two offers simultaneously. The agent's duty of disclosure requires them to:
APresent only the highest offer to the seller
BPresent all offers to the seller promptly✓ Correct
CHold the lower offer for 48 hours before disclosure
DDisclose both offers only to the listing broker, not the seller
Explanation
An agent must present all offers to the seller promptly. Selectively withholding offers violates the fiduciary duty of disclosure and honest dealing owed to the seller.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
AgencyA 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.
State-Specific Concepts
Disclosure Requirements
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