Connecticut salesperson Paul represents seller Grace. Grace's property has been on the market for 90 days. A buyer submits a full-price offer but includes a contingency requiring the seller to replace the roof before closing, at an estimated cost of $18,000. Grace instructs Paul not to present this offer because she does not want to deal with the roof issue. Under Connecticut agency law, what must Paul do?
Correct Answer
D) Present the offer to Grace in writing and document that she has reviewed and rejected it, regardless of her preference not to see it
Paul must present the offer to Grace in writing and document her response. Under Connecticut agency law and professional standards, a listing agent has an obligation to present all written offers to the seller promptly, regardless of the agent's or seller's initial preference. The seller's instruction not to see the offer does not override this obligation. Paul must ensure Grace is informed of the offer and document her decision to reject it. Failing to present a written offer could constitute a breach of fiduciary duty and a violation of CGS Chapter 392.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A legal relationship in which one person (the agent) is authorized to act on behalf of another person (the principal) in business transactions with third parties.
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
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