A seller listed their home for sale with their broker for $400,000. The seller told their broker it was imperative that the property be sold quickly. The seller’s broker showed the property to a buyer and told them the seller was financially insolvent and would accept $380,000. Based on the seller’s broker’s statement, the buyer submits a $380,000 offer which the seller accepts. Concerning the seller’s broker’s actions, which of the following is true?
the seller’s broker violated their fiduciary obligation to the seller since they acted in excess of their authority.
This activity is a violation of the fiduciary duty regardless of the later actions or results.