Final answer:
The best course of action is to drop the sale price of the property to $105,000 as requested by the seller to encourage a quick sale, provided this advice aligns with the current market conditions and does not mislead the client.
Step-by-step explanation:
When a seller asks to drop the price of a property they're selling, as a real estate professional, your role is to assist them in making the best decision based on market conditions and their personal circumstances. Given the options provided, the best course of action would be to drop the sale price to $105,000 and offer it on the market. This step would likely encourage a quicker sale, as requested by the seller, and might attract more potential buyers due to the reduced price.
Option (a), purchasing the property for yourself at $105,000, could present a conflict of interest, and as a professional, it is important to prioritize your client's interests over your own. Option (c), telling the seller the property is probably worth $115,000, could be misleading if the seller is looking for a quick sale and the market does not support that value. Lastly, option (d) suggests maintaining the original price of $120,000, which ignores the seller's request to encourage a quick sale with a price reduction.