Question 86

The listing agent should question the seller as to any known defects.

To appropriately list a property for sale 'as is', the listing agent should question the seller about any known defects. This ensures that all relevant information is disclosed to potential buyers, fostering transparency and trust in the transaction.

A) assume that the owner will accept a relatively low price for the property.

This option is incorrect because the listing agent should not make assumptions about the owner's pricing strategy based solely on the 'as is' status. The price may still reflect the property's market value, depending on various factors, including its condition and location.

B) conclude that if the buyer later discovers defects that were not disclosed the listing agent is relieved of any responsibility.

This choice is also incorrect. Listing agents have a duty to disclose known defects and cannot simply absolve themselves of responsibility. Failure to disclose could lead to legal repercussions and damage to their professional reputation.

C) question the seller as to any known defects.

This option is correct as it emphasizes the importance of the listing agent's role in uncovering and communicating any known issues with the property. By doing so, they protect both the buyer's interests and their own professional integrity.

D) assume the house is a 'fixer-upper.'

This option is misleading. While properties sold 'as is' may require repairs, the listing agent should not automatically categorize the house as a 'fixer-upper' without assessing its true condition. Such assumptions can misrepresent the property to potential buyers.

Conclusion

The correct answer highlights the listing agent's responsibility to gather and disclose information regarding the property's condition. Questioning the seller about known defects is essential in maintaining transparency and trust, while the other options either misrepresent the situation or neglect the agent's duty to inform.