An agent is approached by a buyer who offers to pay additional commission for preferential treatment in viewing properties. What is the appropriate response?
Correct Answer
B) Decline it, because preferring a paying buyer would breach duties owed to vendors
Accepting payment from buyers for preferential treatment would breach the agent's fiduciary duty to act in their principal's (vendor's) best interests and could constitute a secret commission. Professional conduct requires declining such arrangements regardless of disclosure.
Why This Is the Correct Answer
The agent acts for vendors, whose interest is in reaching every buyer fairly. Taking a buyer's money for priority access creates a conflict and may be a secret commission, so it must be declined.
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An agent has an exclusive agency agreement that expires on Friday. On Saturday, the owner sells the property privately to a buyer who first inspected during the agency period. What is the agent's entitlement to commission?
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