Agency
A NC broker's duty to 'present all offers' applies even when:
AThe offer is significantly below asking price✓ Correct
BThe seller has verbally indicated they will only consider full-price offers
CThe property is already under contract, unless the seller instructs otherwise
DAll of the above scenarios require presenting the offer
Explanation
A broker must present all offers to the seller — even very low offers. However, if the property is already under contract and the seller has not authorized backup offers, the broker may decline to present additional offers.
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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.
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.
Listing AgreementA contract between a property owner and a real estate broker that authorizes the broker to market and sell the property.
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