Under Rhode Island law, a listing agent's duty regarding offers received on a seller's property requires that the agent:
Correct Answer
B) Present all offers to the seller in a timely manner, regardless of price or terms
A listing agent in Rhode Island owes a fiduciary duty to the seller that includes the obligation to present all offers promptly and in their entirety. The agent may not withhold, delay, or filter offers based on price, terms, or personal judgment. This duty ensures the seller has full information to make informed decisions about their property.
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Related Topics & Key Terms
Related Topics:
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Related Concepts
The legal ending of an agency relationship, which can occur through completion, expiration, mutual agreement, breach, death, incapacity, or bankruptcy of either party.
The fiduciary obligation to protect a client's private information and not disclose it to third parties without permission, surviving even after the agency relationship ends.
In real estate, a client is someone to whom the agent owes fiduciary duties through an agency relationship, while a customer is a third party to whom the agent owes only honesty and fair dealing.
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