Broker Sullivan delivered an offer to purchase real property to Owner Mercer at 11 a.m. on Monday. Mercer asked for 24 hours to consider the offer. At 7 p.m. that same day, Broker Sullivan received two additional offers from different buyers through one of the broker's salespersons. Sullivan firmly believes the owner will reject all three offers. In order to comply with the law, Sullivan must:
1) Accept the first offer and reject the other two offers
2) Reject all three offers
3) Wait for Mercer's decision before taking any action
4) Inform Mercer about the two additional offers and ask for a decision