In Colorado, a broker has a duty to 'promptly present all offers and counteroffers.' This means:
Why B. All written offers and counteroffers must be presented to the client as soon as practicable, even if the broker believes they are low or unfavorable Is Correct
Answer B: B. All written offers and counteroffers must be presented to the client as soon as practicable, even if the broker believes they are low or unfavorable
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 financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
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