What should a broker do if they believe a property is worth more than the owner's listed price?

The correct approach for the broker in this situation is to inform the seller of the property's true value. A broker has a fiduciary duty to act in the best interests of their client, which includes providing honest and accurate information about the value of the property. By discussing the potential higher value that the broker perceives, they enable the seller to make a more informed decision regarding the listing price. This communication can lead to an increased likelihood of selling the property at a price that reflects its true market value, benefiting both the seller and the broker’s reputation for professionalism and transparency.

While other options may seem reasonable, they do not prioritize the ethical obligations of the broker. Adjusting the listing price without the seller's consent could undermine the broker's relationship with the client. Seeking a second opinion may delay actions, and simply listing at the owner's price without any comments would not fulfill the broker's duty to guide and inform the client properly. Therefore, the responsibility to communicate the property's potential higher value is paramount.