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!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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When presenting a property listing in a competitive market, which offers must Salesperson Taylor disclose?

The highest and lowest offers
The existence of all offers
The terms of the highest offer
The existence and substance of all offers

The correct answer is: The existence of all offers

In a competitive market, Salesperson Taylor is required to disclose the existence of all offers when presenting a property listing. This is to ensure transparency and fairness in the selling process. By disclosing all offers, the seller can make informed decisions and choose the offer that best suits their needs. Disclosing only the highest or lowest offers or the terms of the highest offer may not provide the seller with a full picture of the options available, which is why options A and C are not the correct choices. Option D, which includes both the existence and substance of all offers, goes beyond what is required by law and may compromise the confidentiality of the other offers. Therefore, option B is the most appropriate choice as it aligns with the ethical standards and legal requirements in real estate transactions.