What does a fiduciary have a duty to present?

Prepare for the Illinois Residential Leasing Agent Test. Use our quiz to practice with flashcards and multiple choice questions. Each question provides hints and explanations. Ace your exam!

A fiduciary has a duty to present all offers to the seller in a real estate transaction. This obligation stems from the fiduciary relationship that exists between the agent and the client, in this case, the seller. By presenting all offers, the agent ensures that the seller is fully informed and can make decisions based on all potential opportunities.

This comprehensive presentation of offers allows the seller to assess each one and choose the best option that aligns with their objectives, whether that's financial, timing, or other considerations. It is critical for the agent to act in the best interest of the seller, promoting transparency and fostering trust in the relationship.

In contrast, focusing only on the highest offer would limit the seller’s options and could mean overlooking other offers that may better suit their needs. Presenting only offers that comply with regulations would also be inappropriate, as it is essential to provide a complete picture of all available options. Additionally, failing to present offers simply because the seller may not be initially interested does not fulfill the fiduciary's duty and could hinder the seller's ability to make informed choices.

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