Agency
A NC listing broker who receives multiple offers simultaneously should:
APresent only the highest offer to the seller
BPresent all offers to the seller unless instructed otherwise, allowing the seller to make an informed decision✓ Correct
CAccept the first offer received
DPresent offers in the order they were received
Explanation
A listing broker must present all offers to the seller simultaneously (or promptly) unless the seller has specifically instructed otherwise. The seller makes the decision on which offer to accept.
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Key Terms to Know
Right of First Refusal
A contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
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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