Check Your Understanding Answers
- What is the broker’s responsibility to a client?
The broker is responsible for meeting the needs of the client above the needs of everyone else, including him or herself.
- What is a licensee’s responsibility to a client?
Since the licensee is representing the broker, he or she has the same responsibility to the client that the broker does.
- What types of things is a broker NOT authorized to do for a client?
The broker does not have the authority to do certain things such as:
- Accepting an offer on a listing even if it is for the full purchase price. Only the owner can decide whether or not to accept an offer
- Allowing the buyer to move into the property before the closing without the owner’s permission
- Proposing an offer on a property on behalf of a buyer client without the client’s permission
- Under what conditions might a broker be responsible for something someone else in a transaction stated to a client or customer?
The broker would be responsible for that information if he or she should have known the information because a reasonable person would have known it.
