Agency
A Connecticut seller's agent receives two offers simultaneously—one at list price with many contingencies and one below list price with no contingencies. The agent must:
AOnly present the higher offer
BPresent both offers promptly to the seller✓ Correct
CChoose the best offer and present only that one
DPresent only the offer with the fewest contingencies
Explanation
A seller's agent has a fiduciary duty to present all written offers to the seller promptly, regardless of the agent's personal assessment of which is better. The seller makes all decisions.
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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.
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.
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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