If seller Mr. Kite lists his property with broker Wayne but does not authorize Wayne to accept any deposits, what happens if a buyer submits a $21,000 deposit?

The situation presented involves a listing agreement where the seller, Mr. Kite, has not authorized broker Wayne to accept deposits on his behalf. In this context, if a buyer submits a $21,000 deposit, the correct understanding is that the broker cannot accept the deposit as the seller has explicitly limited the broker's authority.

In the scenario, since the seller has not granted permission for deposits to be accepted, the broker is bound by that limitation. The broker’s role as an agent typically involves acting on behalf of the principal—in this case, Mr. Kite—but that authority is defined by the terms of the listing agreement. Therefore, without authorization, the broker cannot accept the deposit, as this would exceed the scope of what Mr. Kite has permitted.

The other options present scenarios that do not align with the terms of the listing. Voiding the deposit or requiring the buyer to withdraw the offer would not be necessary actions; the deposit simply would not be accepted by the broker. Understanding the limits of agency and the importance of written authority in real estate transactions is critical to navigating these types of situations correctly.