Agency
Under Washington law, a seller's agent who receives an offer is obligated to present it to the seller unless:
AThe offer is below 90% of the list price
BThe seller has given written instructions excluding certain types of offers✓ Correct
CThe buyer did not use a licensed broker
DThe earnest money is less than 1% of the purchase price
Explanation
A Washington listing broker must present all written offers promptly unless the seller has given prior written instructions not to present certain categories of offers (for example, offers below a certain price).
Related Washington Agency Questions
- A Washington broker who represents a buyer sees an in-house listing that could benefit the buyer. If the brokerage is in a dual agency situation, the broker must:
- Under Washington's Law of Real Estate Agency (RCW 18.86), a buyer's agent may NOT:
- A Washington buyer's agent presents an offer far below the list price. The listing agent must:
- In Washington, a buyer's broker who is also a licensed mortgage broker refers the buyer to obtain a mortgage from their own mortgage company. They must:
- Under RCW 18.86, which of the following is a duty owed exclusively to a seller-client (not to a buyer-customer)?
- Washington's statutory agency duties include which of the following duties owed to ALL parties (not just clients)?
- An agency relationship in Washington is typically terminated by all of the following EXCEPT:
- In Washington, a 'material fact' that a broker must disclose is one that:
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