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.

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In a real estate sale where two offers are from different brokerages and one from the same brokerage as the listing, what should the listing salesperson disclose?

The existence of all offers but not their details.
The offer from the same brokerage should be presented first.
Only the best offer terms should be shown to the seller.
Both the existence and the substance of the offers should be disclosed.

The correct answer is: The existence of all offers but not their details.

In a real estate sale where there are multiple offers, the listing salesperson should disclose the existence of all offers to the seller, but not their specific details. This is to ensure transparency and fairness in the offer review process. Disclosing the existence of all offers without revealing their details allows the seller to make an informed decision without bias. By presenting all offers without specifics, the seller can consider each offer based on its merits and make a decision that aligns with their best interests. This approach helps maintain trust and integrity in the real estate transaction process. Options B, C, and D are incorrect because presenting the offer from the same brokerage first, only showing the best offer terms, or disclosing both the existence and substance of the offers would not provide the seller with a fair and unbiased view of all offers on the table. Disclosing only the existence of all offers without details, as stated in option A, is the recommended practice to ensure a transparent and ethical real estate transaction process.