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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Seller Liu is excited about the interest in his condo, which he priced about 15% higher than four similar units in his building. Despite several viewings, he has no offers yet, but believes the high interest will soon yield results. In this situation, the number of showings:

Indicates that buyers are willing to pay more for Liu's unit than other similar units.
May suggest Liu's condo is being used for comparison to sell other units.
Proves that overpricing a property makes it more attractive to buyers.
Confirms that more showings directly correlate with a quicker sale.

The correct answer is: May suggest Liu's condo is being used for comparison to sell other units.

In this situation, the number of showings for Seller Liu's condo being higher than other similar units may suggest that Liu's condo is being used for comparison to sell other units. This indicates that potential buyers are interested in viewing Liu's condo to compare it with other available units in the building. This comparison can help buyers make their decision on which unit to purchase, leading to more showings for Liu's condo as it serves as a benchmark for comparison. The other options are not correct because: - Option A is incorrect because the number of showings does not necessarily indicate that buyers are willing to pay more for Liu's unit than other similar units. - Option C is incorrect because overpricing a property typically deters buyers rather than making it more attractive to them. - Option D is incorrect because while more showings can potentially lead to a quicker sale, it is not a guaranteed correlation and various factors can influence the timing of a sale.