A Colorado broker who represents a buyer in making offers on multiple properties simultaneously should:
Why B. Discuss with the buyer the ethical and practical implications — including how to handle multiple accepted offers — and ensure the buyer understands their obligations under each contract Is Correct
Answer B: B. Discuss with the buyer the ethical and practical implications — including how to handle multiple accepted offers — and ensure the buyer understands their obligations under each contract
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.
Key Agency Terms in This Question
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Key Terms to Know
A deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
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.
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.
Math Concepts
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