A seller has entered into an exclusive right to sell agreement with a broker. If a prospective buyer offers 20% less than the list price, what is the seller's obligation?

The seller, having entered into an exclusive right to sell agreement with a broker, is not obligated to accept any offer, including one that is significantly below the list price. The exclusive right to sell agreement gives the broker the authority to market the property and represent the seller in negotiations, but it does not mandate that the seller must accept or respond to all offers that come in.

A prospective buyer's offer of 20% less than the list price is typically seen as a negotiation starting point. The seller has the discretion to evaluate the offer based on their goals, the current market conditions, and other offers they may have. They may choose to reject the offer outright, accept it, or decide not to make a counteroffer at all. This flexibility reflects the seller's ultimate control over the final decision regarding the sale of their property.