Agency
A Mississippi buyer asks their agent to submit an offer $30,000 below asking price. The agent believes the offer is too low and unlikely to be accepted. The agent should:
ARefuse to submit the offer
BSubmit the offer as directed and share their professional opinion✓ Correct
CChange the offer amount without telling the buyer
DTell the seller the buyer will go higher
Explanation
An agent must follow the client's lawful instructions (duty of obedience). The agent may share their professional opinion about the offer's chances of success, but they must submit the offer as directed if it is lawful.
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Key Terms to Know
Lien
A financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
Fiduciary DutyThe highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
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