Humber/Ontario Real Estate Course 2 Exam Practice

What is the primary advantage of a seller in a strong seller's market?

1. Ability to buy new properties at stable prices

2. Attracting multiple buyers and competitive offers

3. Championing a predictable and gradual property value increase

4. Decrease in market prices leading to quick sales

5. Discounts in property taxes

6. Limited buyer interest leading to relaxed negotiations

The correct answer is: Attracting multiple buyers and competitive offers

In a strong seller's market, the primary advantage for a seller is the ability to attract multiple buyers and competitive offers. When there is high demand for properties and a limited supply, sellers are in a favorable position to receive offers above asking price and negotiate terms in their favor. This competitive environment often results in quicker sales and potentially higher sale prices for the seller. It is a scenario where sellers have more leverage in negotiations due to the high level of interest from buyers, making option B the correct choice. Options A, C, D, E, and F are incorrect because they do not accurately reflect the primary advantage that a seller would experience in a strong seller's market. In a strong seller's market, buyers are willing to pay more for properties, which leads to competitive offers rather than stable prices for buying new properties, predictable and gradual property value increases, decreases in market prices, property tax discounts, or limited buyer interest for relaxed negotiations.