Final answer:
Broker B is a buyer's agent in the real estate transaction, tasked with ensuring the buyer is well informed about the market and property. Difficulties in agreeing on a price may arise due to imperfect information, highlighting the importance of brokers in facilitating equitable transactions.
Step-by-step explanation:
When Broker A takes a listing to sell a house and Broker B brings a buyer and prepares an offer, we can ascertain certain facts about Broker B. Broker B is acting as a buyer's agent, representing the interests of the buyer in the real estate transaction.
Importantly, Broker B has responsibilities which include ensuring that the buyer is well informed about the conditions of the market, and has access to information regarding the property in question. In markets where imperfect information exists, it can be difficult for buyers and sellers to agree on a price.
Imperfect information leads to a situation where one or both parties may not fully understand the value of the property or the market conditions, which can result in a price that doesn't reflect true market conditions.
Markets with many participants typically lead to more competition and a better flow of information, which helps to mitigate information asymmetry. Given these conditions, Broker B must leverage their expertise and resources to bridge any information gaps to facilitate a fair and equitable agreement between the buyer and seller.