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!

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What is a major component in establishing a saleable listing?

The asking price is random with no analysis.
A competitive listing price established through intuition.
A competitive listing price based on thorough analysis.
Random guesses on comparable properties.
Seller's whim in pricing the house.
Ignoring market trends to favor higher pricing.

The correct answer is: A competitive listing price based on thorough analysis.

A major component in establishing a saleable listing is a competitive listing price based on thorough analysis. Pricing a property correctly is crucial for attracting potential buyers and ensuring a successful transaction. By conducting a thorough analysis of comparable properties and market trends, a real estate professional can determine the appropriate listing price that is attractive to buyers while also aligning with the current market conditions. This approach increases the likelihood of generating interest and ultimately securing a sale. The other options are incorrect because they suggest unreliable or inappropriate methods for determining the listing price, such as random pricing, intuition, random guesses, or ignoring market trends. These approaches are not based on objective analysis and are unlikely to result in a successful sale.