Agency
A Mississippi seller changes their asking price from $350,000 to $335,000 after 45 days on the market. The listing agent should:
ATell buyers the seller is desperate and will take less
BUpdate the MLS listing with the new price and market the property at the new price without disclosing the seller's motivation✓ Correct
CCancel the listing and re-list at the lower price to reset DOM
DAdvise buyers the price was reduced due to a defect
Explanation
The listing agent updates the MLS and markets the property at the new price. The seller's motivation (why the price was reduced) is confidential client information. Re-listing solely to reset days-on-market without a material change in the listing is generally considered an unethical MLS practice.
Related Mississippi Agency Questions
- Which of the following BEST describes 'vicarious liability' in a Mississippi real estate brokerage context?
- A Mississippi listing broker places a lockbox on a listed property. This authorizes which parties to access the property?
- A Mississippi real estate licensee who represents the buyer in a transaction owes a duty of loyalty to the buyer, which means:
- A Mississippi real estate agent is asked by a third party to disclose the seller's motivation for selling. The agent should:
- A Mississippi buyer's agent who also receives compensation from the seller must:
- A Mississippi buyer's agent assists the buyer throughout the entire purchase transaction. Upon the buyer's request, the agent also provides a referral to a home inspector. The agent's relationship to the home inspector should be:
- Under Mississippi law, an agency relationship can be terminated by all of the following EXCEPT:
- Under Mississippi law, which of the following must be disclosed to all parties in a real estate transaction regardless of agency relationship?
Practice More Mississippi Real Estate Questions
1,500+ questions covering all exam topics. Start free — no signup required.
Take the Free Mississippi Quiz →