A transaction broker learns that the seller is willing to accept $10,000 less than the listed price. The buyer asks the transaction broker what the seller might accept. How should the transaction broker respond?
Correct Answer
C) Refuse to answer and suggest the buyer make their best offer
Transaction brokers cannot disclose confidential information that would advantage one party over another. They should remain neutral and suggest the buyer make their best offer. Disclosing the seller's position or suggesting specific amounts would violate the duty of limited representation.
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More Authorized Relationships Disclosures Questions
Consent to transition from single agent to transaction broker in Florida must be:
In Florida, the default brokerage relationship when no disclosure is made is:
A Florida licensee working with a customer in a no brokerage relationship:
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All of the following are duties of a transaction broker EXCEPT:
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A buyer approaches a real estate licensee at an open house. The licensee represents the seller as a single agent. If the licensee wants to work with the buyer in purchasing a different property, what must occur first?