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Ga Agency BrretaTransaction_broker_and_ministerial_actsHARD

A licensee acting as a transaction broker receives two offers on a listed property within an hour of each other. The first offer is for $280,000 with a 30-day close, and the second is for $275,000 cash with a 15-day close. What should the transaction broker do under BRRETA?

Correct Answer

C) Present both offers to the seller without recommending which one to accept

Under BRRETA (O.C.G.A. § 10-6A-15), a transaction broker has a duty to present all offers in a timely manner but must not advocate for or against any particular offer. Because the transaction broker does not represent either party in a fiduciary capacity, recommending one offer over another would constitute advocacy and exceed the transaction broker's authorized role.

Answer Options
A
Present only the higher offer since it provides the greatest financial benefit to the seller
B
Present both offers and recommend that the seller accept the cash offer for a faster closing
C
Present both offers to the seller without recommending which one to accept
D
Hold the second offer until the seller has responded to the first offer received

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Related Topics & Key Terms

Key Terms:

transaction_brokermultiple_offersministerial_actsneutrality

Related Concepts

The legal principle that holds a broker responsible for the actions of their agents and employees performed within the scope of the agency relationship.

An agency relationship created when a principal's actions or words lead a third party to reasonably believe that an agent has authority, and the principal fails to correct this belief.

An agency relationship created when a principal approves or accepts an agent's previously unauthorized actions, effectively granting authority after the fact.

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