An Iowa broker reviews a buyer or seller asks for transaction status after an accepted offer. Which answer follows Iowa law?
Correct Answer
C) Either party may demand reasonable progress reports, and the broker furnishes a detailed current-status statement
Iowa Administrative Code 193E-7.7 requires the broker to furnish a progress report after an accepted offer when demanded at reasonable intervals. Source basis: Iowa Administrative Code 193E-7.7, 7.10, 7.11, 7.12, and 7.15: progress reports, designated broker supervision factors, salesperson/broker associate supervision, compensation controversies, and prompt presentation of offers; checked 2026-04-30.
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