Agency
Under Wisconsin law, a broker's 'negotiation authority' on behalf of a seller client allows them to:
AAccept offers without consulting the seller
BCommunicate offers and counteroffers and present the seller's position — but not bind the seller without express authorization to do so✓ Correct
CCommit the seller to terms the broker believes are fair
DNegotiate directly with the buyer's attorney without the seller's knowledge
Explanation
A listing broker presents offers and negotiates on behalf of the seller but generally cannot accept an offer or bind the seller to terms without the seller's express authorization.
Related Wisconsin Agency Questions
- A Wisconsin listing broker who receives a full-price offer from a buyer that meets all the seller's stated terms must:
- In Wisconsin, dual agency requires:
- A Wisconsin buyer's agent owes which of the following duties to the buyer client?
- Under Wisconsin agency law, a 'client' is defined as a person who has entered into a:
- A Wisconsin buyer's agent owes their client 'reasonable care.' This means the agent must:
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- In Wisconsin, multiple representation (dual agency) requires:
- Wisconsin's 'no deal, no commission' rule means a broker earns a commission only when:
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