A broker is required to keep his principal informed of all material facts. A broker who holds a listing from the seller must disclose which of the following facts when presenting an offer?

A. The purchaser is not of the Caucasian race
B. A cooperating broker will be presenting a higher offer the following day
C. The buyer's lender is insisting on an impound account
D. None of the above

Answer: B. A cooperating broker will be presenting a higher offer the following day