A seller’s agent listed a ranch for sale under an exclusive right to sell listing. A buyer’s agent, working through the local multiple listing service (MLS), presented an offer which the seller accepted. During escrow, the seller’s agent discovered the buyer had recently purchased many similar ranches in the area at a far higher cost per acre than had been offered in this transaction. What should the seller’s agent do?
Disclose all information to the seller and let the seller decide what to do.
The listing agent’s fiduciary duty requires them to disclose all material facts to their client, including the existence of the other transactions.