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 correct about a seller's authority to set the listing price?

The seller is free to set the listing price based on personal judgment
The seller must agree to the comparative market analysis price
The seller should prefer the comparative market analysis price for accuracy
The salesperson should alert the seller of the risks of overpricing immediately
The listing price should always be set by the market analysis
Buyer and seller must agree on the listing price

The correct answer is: The seller is free to set the listing price based on personal judgment

The correct answer is A because, as the owner of the property, the seller has the authority to set the listing price based on personal judgment. Sellers have the right to determine the price at which they want to list their property. While it is beneficial for sellers to consider market trends and comparative market analysis to determine a competitive listing price, ultimately, the decision rests with the seller. It is important for real estate professionals to provide guidance and information on market conditions and pricing strategies to help sellers make informed decisions, but the final choice of the listing price ultimately lies with the seller.