Question

David, a real estate broker representing the seller, received an offer on his client's property for $450,000, $50,000 below the asking price. However, the prospective buyer told David that he is capable and willing to offer up to $525,000. According to David's fiduciary duties to his client, what should he tell the client...

Answer 1

The client should be told that the potential buyer is prepared to pay $25,000 more than the asking price. This is further explained below.

What is a real estate broker?

Generally,  Real estate brokers are real estate agents who successfully complete additional schooling requirements and get a state real estate broker license.

In conclusion, Informing the customer that a buyer is willing to pay $25,000 more than the asking price is appropriate.

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