Oregon 30-Hour Real Estate Law Practice Test

What responsibility does the seller's agent have to the seller?

1. Negotiate with the buyer's agent

2. Seek a sale at the best price

3. Market the property on social media

4. Prepare legal documents

The correct answer is: Seek a sale at the best price

The responsibility of the seller's agent to the seller primarily includes the duty to seek a sale at the best price. This duty is grounded in the agent's fiduciary responsibility, which entails acting in the seller's best interests throughout the real estate transaction. The seller relies on the agent’s expertise to maximize the property's value and to ensure that the seller receives the highest possible financial return from the sale. This encompasses various actions, such as advising on pricing strategies, negotiating offers, and recommending improvements that could enhance the property’s marketability. While other aspects of the transaction, like negotiating with the buyer's agent or marketing on social media, are important duties of the agent, they ultimately serve the primary objective of achieving the best possible sale price for the seller. Thus, the focus on seeking a sale at the best price encapsulates the agent's overarching responsibility in the listing agreement.