Agency
An Indiana listing agent who receives multiple offers should:
AOnly present the highest offer
BPresent all offers to the seller unless the seller has provided written instructions otherwise✓ Correct
COnly present offers above the asking price
DDisclose all offer terms to all competing buyers
Explanation
A listing agent must present all offers to the seller unless instructed otherwise in writing. Presenting all offers gives the seller the full picture to make an informed decision.
People Also Study
Related Indiana Questions
- An Indiana broker who fails to present all offers to the seller unless instructed otherwise in writing may be in violation of:Agency
- An Indiana listing agent who sells the property to a buyer and receives the full 6% commission (both sides) has engaged in:Agency
- When an Indiana listing agent presents multiple offers to a seller, the agent's obligation is to:Agency
- An Indiana seller accepts a 6% commission on a $510,000 sale. The commission is split 50/50. The listing agent at the brokerage receives 45% of the listing broker's half. How much does the listing agent earn?Real Estate Math
- An Indiana broker receives a 6% commission on a $550,000 commercial sale. The broker splits 40% to the buyer's broker. What does the listing broker retain?Real Estate Math
- An Indiana property sold for $375,000 with a 5.5% total commission. The listing broker and selling broker split it 50/50. Each cooperating agent receives 60% of their broker's split. How much does each agent earn?Real Estate Math
- An Indiana buyer asks their buyer's agent to help them make an offer on a For Sale By Owner (FSBO) property. The buyer's agent should:Agency
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.
Study This Topic
Practice More Indiana Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Indiana Quiz →