Question

An agent receives an offer. The agent gives the offer to the seller, who asks to consider it for 24 hours. At 6 p.m. the same day, the agent receives two more offers. The agent believes the seller will not accept any of the three offers. The agent should:

a. not convey the two new offers.
b. convey the two new offers by 10 a.m. the next day.
c. convey the two new offers at the same time.
d. hold the offers for 24 hours before conveying them to the owner.

Answer 1

The agent should convey the two new offers at the same time no matter their personal belief about the seller's inclination to accept. This action adheres to the agent's fiduciary duty to act in the client's best interest by presenting all offers promptly.

Step-by-step explanation:

When an agent receives multiple offers on a property, professional ethics and legal obligations typically require the agent to present all offers promptly to the seller. In this scenario, even though the seller has requested 24 hours to consider the first offer and the agent believes the seller will not accept any of the three offers, the agent should convey the two new offers as soon as possible.

The correct action would be: c. convey the two new offers at the same time. This is because agents have a fiduciary duty to act in the best interests of their client, which includes promptly presenting all offers. Delaying or not presenting the offers could be seen as a breach of that duty.