Regarding a listing agent's duty to the seller, which of the following statements about offers is correct?
Correct Answer
B) All offers must be presented to the seller promptly.
Under Delaware agency law and the duties owed to a principal, a listing agent is required to present all offers to the seller promptly, regardless of price or terms. The agent may not withhold, delay, or filter offers based on their own judgment. This duty of disclosure and loyalty ensures the seller has full information to make an informed decision. Failure to present all offers is a violation of the agent's fiduciary duty and Delaware Real Estate Commission regulations.
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Related Topics & Key Terms
Related Topics:
Key Terms:
Related Concepts
The extent of power and actions an agent is authorized to perform on behalf of the principal, as defined by the agency agreement.
The fiduciary obligations owed by a listing agent to the seller, including marketing the property, presenting all offers, and protecting the seller's confidential information.
A practice where the agent or brokerage represents only one party in a transaction — either the buyer or the seller, but never both.
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