Humber/Ontario Real Estate Course 2 Exam Practice

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When representing Seller Wingate and receiving four offers from different brokerages, Salesperson Johannsen must disclose:

  1. The number of competing offers

  2. The number of competing offers and the buyer's names

  3. The offered price submitted for each offer

  4. Any conditions included in the offers

  5. The expected closing date of each offer

  6. Any special requests in the offers

The correct answer is: The number of competing offers

When representing a seller like Seller Wingate and receiving multiple offers from different brokerages, Salesperson Johannsen is required to disclose the number of competing offers to the seller. This information allows the seller to understand the level of interest in their property and can influence their decision-making process. Disclosing the names of the buyers, the offered price submitted for each offer, any conditions included in the offers, the expected closing date of each offer, and any special requests in the offers are not required disclosures in this scenario. The number of competing offers provides crucial information for the seller to make an informed decision without compromising the confidentiality of the other buyers involved in the process.

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