Humber/Ontario Real Estate Course 3 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 3 Exam. Study with challenging questions and detailed explanations to enhance your understanding. Get ready to excel in your exam!

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If facing multiple competing offers, what are the seller’s options?

Reject all offers with no risk involved.
Counter the two best offers to incite a bidding war.
Reject three and counter on the fourth offer.
Accept one of the four offers compulsorily.

The correct answer is: Reject three and counter on the fourth offer.

The scenario of facing multiple competing offers presents various strategic options for a seller. One effective approach is to evaluate all submitted offers, focusing on the strengths and conditions of each. By choosing to reject three offers and counter on the fourth, the seller retains the flexibility needed to negotiate terms that best align with their objectives. This approach allows the seller to engage in a more refined negotiation on the offer they find most promising, enhancing their chances of achieving favorable terms. Such a strategy can also signal to the chosen buyer that they are competing against other offers, potentially motivating them to improve their proposal. This tactic can lead to a more beneficial outcome for the seller, as it balances the desire to keep options open while actively negotiating on a preferred offer. Rejecting all offers would typically mean losing potential deals entirely, while accepting one offer would eliminate the chance to negotiate better terms. Countering just two offers might limit the seller's ability to fully leverage the competitive situation. Thus, focusing on countering one specific offer can be a strategic path to achieving an optimal sale price and terms.