PSI Oklahoma Real Estate Practice Test

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Prepare for the PSI Oklahoma Real Estate Test. Access flashcards and multiple choice questions, each with hints and explanations. Excel in your exam!

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Zane finds a buyer who wants to buy a property listed by him at full price but with a condition. What can Zane do if the seller refuses?

Negotiate new terms with the seller
Accept the offer on the seller's behalf
Collect no commission
Change the listing price

The correct answer is: Collect no commission

The situation described indicates that Zane has a buyer interested in a property listed at full price but with specific conditions. If the seller outright refuses the buyer's offer, Zane cannot accept the offer on the seller's behalf or negotiate new terms without the seller's agreement. In a real estate transaction, the seller has the ultimate authority to accept or reject any offer presented by the agent. Collecting no commission is also a plausible outcome if no sale occurs. If the seller does not accept the offer due to the conditions set forth by the buyer, then no transaction takes place, and therefore Zane would not earn a commission from this particular deal. Real estate agents earn commissions based on successful transactions, and if the seller refuses to accept any offer presented, regardless of the offer's price, the agent does not get compensated. This reinforces the importance of communication and understanding between buyers, sellers, and their agents to facilitate a successful property transaction.