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Ga Agency BrretaTransaction_broker_and_ministerial_actsHARD

A buyer working with transaction broker Kevin asks whether waiving the inspection contingency would make their offer more competitive. The seller has not indicated there are competing offers. How should Kevin respond under Georgia law?

Correct Answer

C) Provide factual information about what the inspection contingency covers and its role in the contract, without recommending a specific course of action

Under BRRETA (O.C.G.A. § 10-6A-12), a transaction broker may provide factual information and assist with understanding contract terms but must not provide strategic advice or advocate for either party. Providing objective information about what the inspection contingency entails allows the buyer to make an informed decision without the broker crossing into advocacy.

Answer Options
A
Recommend waiving the inspection contingency to strengthen the offer against potential competition
B
Advise the buyer to keep the inspection contingency because it provides essential protection
C
Provide factual information about what the inspection contingency covers and its role in the contract, without recommending a specific course of action
D
Tell the buyer that waiving the contingency is unnecessary since there are no other offers on the property

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Related Topics & Key Terms

Key Terms:

transaction_brokercontingenciesstrategic_adviceindependent_counsel

Related Concepts

An arrangement where a brokerage assigns separate agents within the firm to represent the buyer and seller in the same transaction, allowing each client to have dedicated representation.

A situation where a single agent or brokerage represents both the buyer and the seller in the same real estate transaction.

An agency relationship created by a clear, explicit agreement between the principal and agent, either orally or in writing.

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