Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

A seller receives three competing offers for his property. Two are from the listing brokerage and one from a co-operating brokerage. Which of the following is true?

The seller must decide which is the best offer and either accept or counter it.
The seller has three options: accept one offer, reject all offers, or counter one offer.
The seller should counter more than one offer simultaneously.
The seller must first deal with offers from the listing brokerage before considering the one from the co-operating brokerage.
The seller should accept the highest offer immediately.
The seller should negotiate with all buyers at the same time.

The correct answer is: The seller has three options: accept one offer, reject all offers, or counter one offer.

In this scenario, the correct answer is B. The seller indeed has three options when faced with multiple offers, which are: accept one offer, reject all offers, or counter one offer. It is crucial for the seller to carefully review all the offers and decide which one aligns best with their needs and preferences before taking any further action. This option accurately reflects the seller's rights and choices in such a situation. Options A, C, D, E, and F are incorrect as they do not fully capture the seller's options or the appropriate steps to take when dealing with multiple offers. Remember, it is essential for the seller to consider all offers carefully and make an informed decision based on their specific circumstances and priorities.