56. A licensee presents an offer on his own listing for less than the asking price. While the seller is considering it, a broker from another firm advises the listing licensee that she has a written offer for the asking price. What should the listing licensee do?
Answer: C
Present the second offer immediately.
The listing licensee should present the second offer immediately, as it is their duty to inform the seller of all offers received, regardless of the status of other offers on the table.
A) Wait until after the acceptance date of the first offer to allow the second one to be presented.
This option is incorrect because it delays the presentation of the second offer and does not fulfill the licensee's obligation to keep the seller informed of all offers. The seller deserves to know about the second offer as soon as it is received to make an informed decision.
B) Wait until the first offer is either accepted or rejected before allowing the second one to be presented.
This approach is also incorrect since it restricts the seller's ability to consider all possibilities. The listing licensee must present offers as they come in, ensuring the seller has all options available for consideration.
C) Present the second offer immediately.
This option is correct because the listing licensee has a fiduciary duty to present all offers to the seller as they are received. Presenting the second offer immediately allows the seller to weigh their options effectively.
D) Present the second offer only after advising the seller to counter the first offer.
This choice is incorrect because it implies a bias towards the first offer and does not give equal consideration to the new offer. The listing licensee should remain neutral and present all offers without recommending a particular course of action.
Conclusion
The correct answer is to present the second offer immediately, as it upholds the licensee's responsibility to provide the seller with comprehensive information about all offers. Other options fail to meet this obligation, either by delaying the presentation of the second offer or by advising the seller in a way that could be seen as favoring one offer over another. Transparency in real estate transactions is critical for the seller's decision-making process.