Agency
Iowa requires that real estate licensees present all written offers to the seller promptly. 'Promptly' is BEST defined as:
AWithin 24 hours of the next business day
BAs soon as reasonably possible after receiving the offer✓ Correct
CWithin 3 business days of receipt
DWhenever the seller is available for a meeting
Explanation
Iowa's agency law requires that offers be presented to the seller as soon as reasonably possible (promptly) after receipt. Delaying presentation of an offer without a valid reason violates the agent's fiduciary duties to the seller.
Related Iowa Agency Questions
- Under Iowa law, which of the following is a disclosed dual agency situation?
- Iowa allows a seller to instruct their listing agent in writing not to present offers below a specified price. This instruction:
- In Iowa, a transaction broker:
- An exclusive right-to-sell listing guarantees the listing broker a commission if the property sells during the listing period:
- When a seller's agent presents an offer to the seller, the agent's duty of loyalty requires them to:
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- An Iowa licensee who represents a seller but deals honestly and fairly with an unrepresented buyer is acting as:
- An Iowa buyer's agent who helps the buyer draft an offer is performing which type of service?
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