EstatePass
Practice Of Real EstateBroker DutiesEASY

Which of the following best describes a Maine listing broker's obligation regarding offers received on a listed property?

Correct Answer

B) All offers must be presented to the seller promptly, regardless of price or terms

Under Maine real estate license law and agency duties, a listing broker is obligated to present all offers to the seller promptly, regardless of the offer price, terms, or the broker's personal opinion of the offer's merit. This duty exists to protect the seller's right to make informed decisions about their property. A broker who withholds or filters offers without the seller's explicit written authorization may be in violation of their fiduciary duties and Maine license law.

Answer Options
A
Only written offers above the listing price must be presented to the seller
B
All offers must be presented to the seller promptly, regardless of price or terms
C
The broker may filter offers and present only those the broker deems acceptable
D
Only offers accompanied by a pre-approval letter are required to be presented

Why This Is the Correct Answer

Sign up free to unlock full analysis

Why the Other Options Are Wrong

Sign up free to unlock full analysis

Deep Analysis of This Practice Of Real Estate Question

Sign up free to unlock full analysis

Background Knowledge for Practice Of Real Estate

Sign up free to unlock full analysis
Sign up free to unlock full analysis

Real World Application in Practice Of Real Estate

Sign up free to unlock full analysis

Common Mistakes to Avoid on Practice Of Real Estate Questions

Sign up free to unlock full analysis

Related Topics & Key Terms

Related Topics:

fiduciary dutieslisting agreement obligationsseller representationMREC disciplinary actionsagency law in Maine

Key Terms:

fiduciary dutypresent all offerslisting brokerseller representationMaine agency law
Was this explanation helpful?

More Practice Of Real Estate Questions

People Also Study

Practice More Questions

Access 2,000+ practice questions and pass your real estate exam.

Start Practicing