Humber/Ontario Real Estate Course 3 Exam Practice

What must a real estate agent do when receiving an offer from a co-operating brokerage?

1. Delay the offer to seek a higher bid from another buyer.

2. Not addressed in the Code of Ethics.

3. Present the offer as soon as feasibly possible.

4. Promptly deliver counter-offers only.

The correct answer is: Present the offer as soon as feasibly possible.

The correct answer, which emphasizes that a real estate agent must present the offer as soon as feasibly possible, is grounded in the ethical obligations and professional standards governing real estate transactions. Agents have a duty to act in the best interest of their clients, which includes timely communication regarding offers. By presenting the offer promptly, the agent ensures that the client is fully informed and can make decisions based on the most accurate and timely information available. This practice aligns with the principles of transparency and respect for the buyer's interest, demonstrating professionalism and adherence to industry regulations. Additionally, by prioritizing the swift presentation of offers, agents contribute to maintaining trust in the transaction process, ensuring all parties are respected and their interests protected. The rationale behind the other options highlights their implications: delaying an offer to seek a higher bid undermines the seller's interests and could breach ethical guidelines, while stating that the issue is not addressed in the Code of Ethics fails to acknowledge the established responsibilities that real estate professionals have regarding offers. Lastly, only delivering counter-offers promptly does not encompass the broader obligation to present any received offers in a timely manner.