Broker Taylor is a single agent for buyer Johnson. Johnson wants to make an offer on a property, but Taylor knows from market analysis that similar properties have sold for $20,000 less than the asking price. What should Taylor do?
Correct Answer
D) Share the market analysis and suggest Johnson consider a lower offer
As Johnson's single agent, Taylor has a duty to provide professional advice and market knowledge to help his client make informed decisions. Sharing relevant market data serves the client's best interests. Option A doesn't serve the client's financial interests. Option C fails to provide the professional guidance expected. Option D bypasses the client's decision-making authority.
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Related Topics & Key Terms
Key Terms:
Related Concepts
A material defect is a condition that significantly affects the value, desirability, or safety of a property and that would likely influence a reasonable buyer's decision to purchase or the price they would pay.
Megan's Law requires states to make information about registered sex offenders available to the public. Some states require real estate agents to inform buyers about the availability of sex offender registries.
Mold disclosure involves informing buyers about the presence of mold or conditions that are conducive to mold growth in a property. While no federal mold disclosure law exists, many states require disclosure of known mold issues.
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