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.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
An agency relationship created by the conduct or actions of the parties rather than by a written or oral agreement.
The legal obligation to reveal information that could affect a party's decision to enter into or the terms of a real estate transaction.
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
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