EstatePass
AgencyDuties To PrincipalEASY

A South Dakota listing agent receives a verbal offer from a buyer. The agent is obligated to:

Correct Answer

B) Present all offers to the seller, including verbal ones

A listing agent has a fiduciary duty to present ALL offers to the seller, including verbal offers. The agent cannot screen or filter offers based on their own judgment about the offer's merit.

Answer Options
A
Ignore it because it is not in writing
B
Present all offers to the seller, including verbal ones
C
Tell the buyer to come back with a written offer
D
Only present it if it is above the listing price

Why This Is the Correct Answer

Sign up free to unlock full analysis

Why the Other Options Are Wrong

Sign up free to unlock full analysis

Deep Analysis of This Agency Question

Sign up free to unlock full analysis

Background Knowledge for Agency

Sign up free to unlock full analysis
Sign up free to unlock full analysis

Real World Application in Agency

Sign up free to unlock full analysis

Common Mistakes to Avoid on Agency Questions

Sign up free to unlock full analysis

Related Topics & Key Terms

Related Topics:

duty-of-disclosureseller-decision-makingmultiple-offersbackup-offers

Key Terms:

present all offersverbal offerduty of disclosureseller's rightno screening
Was this explanation helpful?

More Agency Questions

People Also Study

Agency Questions

Practice More Questions

Access 2,000+ practice questions and pass your real estate exam.

Start Practicing