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Asked on October 18, 2011 under Real Estate Law, Nevada
Answered 13 years ago | Contributor
The property belongs to the seller--he or she decides on the price. The broker is only the seller's agent and must list the property at the price the seller requires. If the broker/agency agreement between the seller and broker gives the broker the right to terminate the agency relationship under certain circumstances, and those circumstances are fulfilled, the broker could either quit the representation or at least threaten to do so unless the price is modified; otherwise, the broker must list at the unrealistic price. Furtheremore, the broker has a duty to represent the seller's interests, which means the broker can't undercut the seller by telling people that he or she did not take the broker's advice and the broker would have listed it lower (or at least, the broker can't do this until the relationship is over).
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