Contracts
If a property listed in Illinois receives multiple simultaneous offers, the listing agent's ethical obligation is to:
AAccept the highest offer immediately without informing the seller of all offers
BPresent all offers to the seller as promptly as possible and advise the seller of the multiple offer situation✓ Correct
CReject all offers and request final best offers from all buyers
DSelect the offer with the fastest closing date to benefit the seller
Explanation
When multiple offers are received, the listing agent must present all offers to the seller promptly and inform the seller of the multiple offer situation. The seller—not the listing agent—decides how to respond (accept one offer, counter one or more offers, or ask for best and final offers). The agent must follow the seller's instructions. Illinois license law and REALTOR® ethics prohibit the agent from unilaterally deciding which offers to present.
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