Contracts
A Minnesota listing agreement describes the property's features. After the listing is signed, the seller discloses that the furnace is 30 years old. What should the agent do?
ANothing, since the listing is already signed
BUpdate the MLS listing to reflect the furnace condition
CAdd a disclosure addendum and consider if a price adjustment is needed✓ Correct
DWait until the buyer's inspection reveals the issue
Explanation
When new material information is discovered after a listing is taken, the agent should ensure it is properly disclosed. This may involve adding an addendum, updating the property disclosures, and advising the seller on whether the listing price remains appropriate.
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