A licensed broker employed by a principal may not?

A licensed broker employed by a principal (usually the seller or the landlord) plays a crucial role in the real estate transaction process. However, the ability to accept or reject offers of purchase is typically reserved for the principal alone. The broker can facilitate the transaction by presenting offers and providing advice, but the final authority rests with the principal to decide whether to accept or reject any offer.

When a broker negotiates on behalf of their client, they are acting as an intermediary. Though they can communicate offers and negotiate terms, the actual decision-making regarding acceptance or rejection must align with the principal's wishes. This is rooted in the principle of agency in real estate, where the agent (broker) acts on behalf of the client (principal), but does not hold the authority to make binding decisions without explicit permission.

In contrast, the other options involve standard activities that brokers are authorized to perform on behalf of their clients. Advertising listed properties, negotiating offers, and showing properties to prospective purchasers are all actions taken within the scope of the broker's duties, which they may carry out as part of their role in representing the principal.