Linda, a real estate broker, listed a house and property for sale at $145,000 having told the vendor, Ann, that this would leave some "bargaining room" above its true value of $140,000. She set about finding a purchaser and eventually met Steven. When Steven was shown a copy of the listing and appeared interested, Linda closed the sale by advising Steven that Ann was asking too much, and to offer only $140,000 for the property. The transaction went forward to a natural conclusion at $140,000. Discuss where Linda's responsibilities lay, and any outcome should Ann and Steven ever "compare notes."

Question

Quizplus · Accepted Answer

The Answer of Linda, a real estate broker, listed a house and property for sale at $145,000 having told the vendor, Ann, that this would leave some "bargaining room" above its true value of $140,000. She set about finding a purchaser and eventually met Steven. When Steven was shown a copy of the listing and appeared interested, Linda closed the sale by advising Steven that Ann was asking too much, and to offer only $140,000 for the property. The transaction went forward to a natural conclusion at $140,000. Discuss where Linda's responsibilities lay, and any outcome should Ann and Steven ever "compare notes."

Linda, a Real Estate Broker, Listed a House and Property