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A broker representing the seller has taken a listing on a property at a price of $400,000. The broker showed the property to a potential buyer and the buyer made an offer of $375,000, but told the broker that he/she would pay the full $400.000 if necessary. The broker should tell the seller:

Respuesta :

In the case mentioned in the question the seller's broker violated their fiduciary obligation to the seller because they have acted in excess /beyond  their authority

Explanation:

A broker who is  representing the seller has taken a listing on a property at a price of $400,000. The broker showed the property to a potential buyer and the buyer made an offer of $375,000, but told the broker that he/she would pay the full $400,000 if necessary.

After analysis the below mentioned statement from the  question we can view the following facts

  • The price of the property is $400,000
  • The broker on belhalf of the seller agrees to sell the property to the buyer at $375,000 which is less than the listing price of the property .

Hence we can say that the seller's broker violated their fiduciary obligation to the seller because they have acted in excess /beyond  their authority

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