Sherman is a listing agent. At what point is he no longer obligated to present offers to his seller client?

The correct answer is that Sherman is no longer obligated to present offers to his seller client once the sale has closed. At this point, the transaction is complete, all contractual obligations related to the listing and the sale are fulfilled, and the relationship between the listing agent and the client regarding that specific property has concluded.

After closing, Sherman has no further duty to present additional offers because there is no longer a property available for sale under that listing agreement. The responsibility to communicate offers to the seller ends when the transaction is finalized, as the property effectively changes hands and the seller's interests in that listing cease.

The other scenarios do not negate Sherman's obligation to present offers. Termination of the listing agreement would only mean he is no longer working with the seller but does not eliminate his duty until the agreement is officially terminated. Acceptance of an offer does not remove the obligation until the transaction closes. Finally, if a buyer backs out, the duty to present other offers might still exist if the property is still on the market. Thus, the closure of the sale marks the point at which his obligations are concluded.