Humber/Ontario Real Estate Course 3 Exam Practice

How should a broker respond if a seller with a high-value property insists on an open house?

1. Immediately agree to conduct an open house, as it is the best way to market this home.

2. Agree to conduct an open house but ensure that the seller hires security for the duration of the open house.

3. Suggest the seller should be present to watch over valuables and take over if the broker is called away.

4. Suggest viewing by appointment only due to extensive valuables, and take special precautions if an open house is ultimately needed.

5. Reject the idea of an open house and suggest a virtual tour instead.

6. Conduct the open house only after removing all valuables from the home.

The correct answer is: Suggest viewing by appointment only due to extensive valuables, and take special precautions if an open house is ultimately needed.

The best course of action is to suggest viewing by appointment only due to extensive valuables, while also considering special precautions if an open house is ultimately needed. This response recognizes the reality that high-value properties often contain items of significant worth which could be at risk during an open house. By proposing appointment-only viewings, the broker is prioritizing the safety and security of the seller’s valuables, while also ensuring that potential buyers can still view the property in a controlled manner. This approach allows for a more personalized experience, as appointments can be scheduled when the property is less likely to have distractions or interruptions. If the seller still insists on an open house, suggesting that special precautions be taken acknowledges that the broker is attentive to the seller's wishes but also cautious about potential risks. This creates a balance between marketing the property and ensuring the safety of valuable items. In contrast, immediately agreeing to an open house or conducting one without safeguards could lead to security issues. Similarly, having the seller present may not be the most effective way to showcase the home and could create a less inviting atmosphere for potential buyers. Suggesting a virtual tour may limit exposure to the property as well; in-person showings are often more impactful in luxury real estate.