California Real Estate Practice Exam

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Broker A buys a property from Seller B then sells it for a higher price. What should Broker A have done?

  1. Offered it to another buyer first

  2. Told the seller of the deal and gotten permission

  3. Sold it at the same price

  4. Purchased it under a different name

The correct answer is: Told the seller of the deal and gotten permission

Broker A should have informed Seller B of the deal and obtained their permission for the sale. This is ethical and required by law as Broker A has a fiduciary responsibility to Seller B. Option A is not the correct action as it would be unfair to other potential buyers. Option C is not the correct action as Broker A has a duty to get the best price for the property. Option D is not the correct action as it is deceitful and could lead to legal consequences.

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