Agency
A seller's agent receives an offer that is below the listing price. The agent believes the offer is fair given market conditions. The agent should:
AReject the offer on behalf of the seller without presenting it
BPresent the offer promptly to the seller with the agent's market analysis✓ Correct
CCounter-offer at listing price without consulting the seller
DDelay presenting the offer to encourage higher bids
Explanation
An agent has a fiduciary duty to present all offers promptly to the seller. The agent should present the offer along with relevant market data to help the seller make an informed decision.
Related Idaho Agency Questions
- Under Idaho law, what happens to the agency relationship when a real estate transaction closes?
- Which of the following creates an implied agency in Idaho?
- The fiduciary duty of loyalty requires an agent to:
- The duty of obedience in agency relationships requires an agent to:
- A seller instructs their Idaho listing agent to disclose the minimum price they will accept to any interested buyer. The agent should:
- In an Idaho disclosed limited agency (dual agency) situation, the agent must:
- In Idaho, a listing agent is also representing their own buyer on the same property. The listing price is $400,000. Under disclosed limited agency, the agent must NOT:
- In Idaho, a 'seller's disclosure obligation' exists even when the property is listed 'as is' because:
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