Montana License Law
In Montana, a broker who receives multiple offers on a listing must:
APresent them in the order received, one at a time
BPresent all offers to the seller as promptly as possible, allowing the seller to make an informed decision✓ Correct
COnly present the highest offer
DWait 24 hours before presenting any offer to ensure all offers are received
Explanation
A Montana listing broker has a fiduciary duty to present all offers to the seller promptly. The seller decides which offer (if any) to accept, counter, or reject.
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Key Terms to Know
Fiduciary Duty
The highest legal duty an agent owes to a principal — requiring the agent to act in the principal's best interest above all others.
Seller's Agent (Listing Agent)A real estate licensee who represents the seller's interests, markets the property, and owes fiduciary duties to the seller.
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
State-Specific Concepts
License Law
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