Which statement is true about an agent representing the seller?

Prepare for the OACIQ Exam. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam with our comprehensive quiz!

An agent representing the seller is primarily tasked with advocating for the best interests of the seller throughout the real estate transaction. This includes striving to obtain the highest price and the most favorable conditions for the seller. The agent's role is to negotiate effectively on behalf of the seller, ensuring that the terms of the sale align with the seller's objectives and needs.

In doing so, the agent engages in activities such as market analysis to determine a suitable asking price, marketing the property, and negotiating offers with potential buyers. The fiduciary duty owed to the seller compels the agent to place the seller's interests first and to ensure they achieve the best possible outcome from the transaction.

The other options do not accurately reflect the duties of a seller's agent. The agent is not to negotiate lower prices, act in the buyer's favor, or minimize their responsibilities; rather, their focus is entirely on supporting and representing the seller’s interests. Thus, the importance of maximizing the sale price and securing favorable conditions is central to their role.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy