If a seller accepts a buyer's offer while out of town, what should the broker do with the earnest deposit?

The correct choice is to immediately deposit the earnest deposit into an escrow account. This approach serves several important functions in a real estate transaction.

First, depositing the earnest money into an escrow account provides a secure and neutral way to hold funds. This ensures that the money is safeguarded until all contingencies of the sale are met, and it demonstrates the buyer’s seriousness about their offer. Holding the earnest money in escrow also protects both parties in the transaction by providing a clear and legally recognized process for handling funds.

Additionally, once the seller has accepted the offer, the contract is in effect, and the broker has a fiduciary duty to act in the best interest of their client, ensuring that all parties involved are treated fairly. By placing the earnest deposit in an escrow account, this duty is upheld without delay, protecting the deposit from potential mismanagement or claims.

The other options do not adequately address the need to secure the earnest money in a way that is legally compliant and in the best interest of both the buyer and seller. For example, contacting the seller for instructions could delay the process unnecessarily. Keeping the funds in a safe or having the buyer hold the money would introduce unnecessary risk, as these methods do not offer the same level of security and accountability as