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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What is the correct procedure when an offer is received by the listing brokerage from another brokerage?

Present the offer within 24 hours of receipt.
Present the offer as mandated, then accept, reject, or counter as per detailed procedures in the Code of Ethics.
The offer should always be presented by the listing salesperson.
The seller can decide to accept, reject, or counter the offer upon presentation.
The offer can be modified only by the broker of record before presentation.
The offer should be immediately communicated to the seller by any means.

The correct answer is: The offer should always be presented by the listing salesperson.

When an offer is received by the listing brokerage from another brokerage, it is essential that the offer is presented to the seller by the listing salesperson. This is the correct procedure to follow as it ensures transparency and efficiency in the transaction process. By having the listing salesperson present the offer directly to the seller, it helps to maintain clear communication and allows for any questions or negotiations to be addressed promptly between the seller and their representative. The other options are incorrect: A. It is important to present the offer promptly, but there is no specific 24-hour requirement outlined in the question. B. While the listing brokerage can accept, reject, or counter an offer, the focus of the question is on the procedure for presenting the offer, which is the responsibility of the listing salesperson. D. While the seller ultimately has the decision-making power on whether to accept, reject, or counter the offer, the question pertains to the presentation process, not the seller's response. E. The offer should be presented in its original form to the seller, and any modifications should be discussed with all relevant parties before presentation. F. While it is essential to communicate the offer to the seller in a timely manner, the specific manner of communication is not specified in the question, making this option not the correct procedure.