Affiliate Broker Tennessee (TN PSI) National Practice Exam `

When representing the seller, what obligation do you have toward the buyer?

1. Negotiate the buyer's offer

2. Present offers from the buyer to your seller

3. Provide property disclosures to the buyer

4. Assist the buyer in finding financing

The correct answer is: Present offers from the buyer to your seller

When representing the seller, the primary obligation you have toward the buyer is to present offers from the buyer to your seller. This is a fundamental duty of a broker or agent, as it ensures that the seller is fully informed of all potential offers and can make an educated decision regarding the sale of their property. Understanding this obligation helps clarify the role of the agent in the transaction. The agent acts as a fiduciary to the seller but must also abide by certain ethical and legal obligations toward buyers, which include the duty to communicate all offers received. While other responsibilities, such as negotiating offers or assisting buyers with finding financing, are important aspects of the real estate process, they do not fall under the same direct obligation to present offers. Similarly, providing property disclosures is the responsibility of the seller, although agents should ensure that all necessary disclosures are made to maintain compliance with legal standards. Presenting offers is crucial for facilitating the transaction and ensuring that both parties have the necessary information to proceed.