Humber/Ontario Real Estate Course 2 Exam Practice

According to the Code of Ethics, what must Salesperson McKay do when receiving an offer from a co-operating brokerage?

1. McKay can delay the presentation to secure a better offer from another buyer

2. The Code does not address delay of co-operating brokerage offers

3. Present the co-operating brokerage's offer as soon as feasibly possible

4. Delay counter offers but present initial offers promptly

5. Notify the buyer about the delay due to multiple offers

6. Wait until his buyer client makes a decision

The correct answer is: Present the co-operating brokerage's offer as soon as feasibly possible

According to the Code of Ethics, Salesperson McKay must present the co-operating brokerage's offer as soon as feasibly possible. This is in line with the ethical standards in real estate transactions to ensure fairness, transparency, and timely communication between all parties involved. By promptly presenting the offer, McKay is upholding their duty to act in the best interest of their client while also fulfilling their obligations to cooperate with other brokerages in a professional manner. The other options are incorrect: A. McKay cannot delay the presentation of the offer to secure a better offer from another buyer as this would go against the principles of fairness and good faith in real estate transactions. B. The Code of Ethics does address the prompt presentation of co-operating brokerage offers to ensure timely communication and transparency. D. McKay should not delay presenting initial offers promptly as this can lead to misunderstandings, delays, and potential conflicts in the transaction. E. While it is important to communicate effectively with all parties involved in the transaction, the primary focus should be on promptly presenting the offer to the seller. F. McKay should not wait until his buyer client makes a decision before presenting the offer from the co-operating brokerage to the seller.