General Principles Of AgencyDual_agency_and_conflictsMEDIUM
A listing agent knows the seller wants to accept any offer above $290,000. When the buyer asks the listing agent what the seller would accept, what should the listing agent do?
Correct Answer
C) Decline to reveal the seller's confidential negotiating position
The listing agent owes the seller confidentiality and must not reveal the seller's bottom line to the buyer, even if it would facilitate a deal.
Answer Options
A
Tell the buyer the lowest price the seller will accept to help close the dealB
Suggest the buyer offer $290,001 to secure the propertyC
Decline to reveal the seller's confidential negotiating positionD
Advise the buyer to submit an offer below $290,000Why This Is the Correct Answer
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Background Knowledge for General Principles Of Agency
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Related Topics & Key Terms
Key Terms:
dual_agency_and_conflictsagencyconfidentialitynegotiation
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