Humber/Ontario Real Estate Course 3 Exam Practice

In a situation where a seller expects multiple offers, what responsibility does the listing salesperson have?

1. Cannot delay offer presentations.

2. Must reject pre-emptive offers outright.

3. Can ignore the seller's wishes.

4. Must present all received pre-emptive offers.

5. Can suggest but not influence the seller's decision on handling offers.

6. Must inform the seller about any pre-emptive offers received.

The correct answer is: Must inform the seller about any pre-emptive offers received.

The role of the listing salesperson in the context of multiple offers is crucial for ensuring that the seller is fully informed and equipped to make the best decisions. In a situation where pre-emptive offers are received, it is the responsibility of the listing salesperson to inform the seller about these offers. This is essential because the seller has the right to consider all potential opportunities before deciding how to proceed. By keeping the seller informed, the listing salesperson helps facilitate an informed decision-making process regarding the handling of all offers, including whether to accept, decline, or respond to any of them. Furthermore, this aligns with the fiduciary duty the salesperson has toward the seller, which includes acting in the seller's best interests and providing relevant information. This transparency is critical in a competitive market, as it allows the seller to leverage the situation effectively, potentially resulting in better outcomes for them. The responsibility to inform the seller about any pre-emptive offers also promotes ethical practices in real estate transactions, assuring that the seller's interests are considered and respected.