Humber/Ontario Real Estate Course 2 Exam Practice

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If a seller makes changes to the property listing after an offer has been made, the listing agent should:

  1. Inform all potential buyers about the changes

  2. Maintain original listing details for all subsequent offers

  3. Cancel all existing offers and start the process anew

  4. Adjust the market price accordingly without informing the buyers

  5. Notify only the agents who have shown the property

  6. Only update the listing on internal brokerage platforms

The correct answer is: Inform all potential buyers about the changes

When a seller makes changes to the property listing after an offer has been made, it is important for the listing agent to inform all potential buyers about these changes. This is because potential buyers should have access to accurate and up-to-date information about the property they are interested in. By notifying all potential buyers about the changes, the listing agent ensures transparency and fairness in the process. This way, all parties involved can make informed decisions based on the most current information available. The other options are not the best course of action in this scenario: - Maintaining the original listing details for all subsequent offers could lead to confusion and potential misunderstandings among buyers. - Canceling all existing offers and starting the process anew may not be necessary if the changes made to the listing are minor and do not significantly affect the offer. - Adjusting the market price without informing the buyers goes against transparency and may lead to distrust among potential buyers. - Notifying only the agents who have shown the property could exclude other potential buyers who have expressed interest in the property. - Only updating the listing on internal brokerage platforms may limit the exposure of the property to a wider pool of potential buyers. Therefore, option A, which is to inform all potential buyers about the changes, is the most appropriate action for the listing agent to take in this situation.

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