Iowa Real Estate Practice Exam

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What can a listing agent's broker do if the sellers withdraw their acceptance of an offer?

Negotiate a new buyer
Accept the seller's decision
Put the home back on the market
Sue the seller for a commission

The correct answer is: Sue the seller for a commission

When a seller withdraws their acceptance of an offer, the most pertinent action for a listing agent's broker to take is to consider their contractual rights and obligations. In general, a broker may seek to enforce the terms of their listing agreement, which could include pursuing a commission for their efforts if the seller's withdrawal is deemed a breach of contract. If the broker believes that they are entitled to a commission due to the seller’s actions, they may decide to initiate legal proceedings to recover that commission. This choice directly connects to the broker's role and responsibilities in representing the seller and ensuring that they fulfill their contractual obligations. The options of negotiating with a new buyer or putting the home back on the market are certainly possible actions the broker may take following the seller's decision, but they do not specifically address the issue of the seller's withdrawal and the broker's potential financial entitlement. Accepting the seller's decision might be seen as compliance but does not protect the broker’s financial interests, which leads back to the possibility of seeking a commission through legal means.