Agency
Under Oklahoma law, a listing broker is required to submit all written offers to the seller:
AOnly if the offer is within 5% of the listing price
BPromptly upon receipt, unless the seller has given written instructions to the contrary✓ Correct
COnly during normal business hours
DOnly if accompanied by an earnest money deposit
Explanation
A seller's agent must present all written offers promptly and without filtering based on price or terms, unless the seller has provided specific written instructions about which types of offers to present. Failure to present offers violates the agent's fiduciary duty.
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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.
Earnest MoneyA deposit made by the buyer when submitting a purchase offer, demonstrating serious intent and serving as consideration for the contract.
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.
AgencyA legal relationship in which a licensee (agent) acts on behalf of a principal (buyer or seller) in a real estate transaction.
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