Agency
A Mississippi listing agent receives an unsolicited offer directly from a buyer (no buyer's agent). In handling this situation, the listing agent should:
ARefuse to present the offer since there is no buyer's agent
BPresent the offer to the seller and clarify the agency relationships — the listing agent represents the seller, and the buyer is unrepresented and should be advised to seek their own representation if they wish✓ Correct
CAutomatically become the buyer's agent
DIncrease the commission to cover the buyer's side
Explanation
When an unrepresented buyer makes a direct offer, the listing agent must present the offer to the seller and clearly explain agency relationships: the agent represents the seller only. The buyer should be advised they may want their own representation.
Related Mississippi Agency Questions
- Under Mississippi law, a broker who operates without a signed listing agreement may still be entitled to a commission under the legal doctrine of:
- Agency by ratification occurs when:
- A Mississippi real estate licensee who represents the buyer in a transaction owes a duty of loyalty to the buyer, which means:
- Apparent authority in agency law refers to authority that:
- A Mississippi seller fires their listing agent before the listing agreement expires, without cause. The seller may be:
- Under Mississippi agency law, a principal who ratifies an unauthorized act by their agent:
- A Mississippi real estate agent who holds a power of attorney to sign documents on behalf of an absent seller must:
- Under Mississippi agency law, an agent's authority that arises from the reasonable belief of a third party based on the principal's conduct is called:
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →