Agency
A Wyoming buyer asks their agent to write an offer significantly below list price. The agent must:
ARefuse to write a lowball offer
BWrite and present the offer per the client's instructions✓ Correct
CAdvise the seller of the buyer's maximum budget
DContact the seller directly to negotiate
Explanation
Under the duty of obedience, a buyer's agent must follow the client's lawful instructions, including presenting offers at any price the buyer chooses. The agent may counsel but not override the client's decision.
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Key Terms to Know
Buyer's Agent
A real estate licensee who represents the buyer's interests in a transaction, owing fiduciary duties to the buyer.
LienA financial claim against a property that serves as security for a debt or obligation, giving the creditor the right to foreclose if unpaid.
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.
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