Humber/Ontario Real Estate Course 3 Exam Practice

Why might a property listed far above comparables still receive several showings?

1. Market dynamics suggest property's unique appeal despite higher price.

2. It’s being used as a comparison benchmark for assessing other properties.

3. Buyers are drawn to premium-listed properties even in regular markets.

4. A strategy to highlight overpricing's effect on average sales rates.

5. Market perception about the area elevates high-priced property interest.

6. This denotes natural buyer curiosity driven by marketing tactics.

The correct answer is: It’s being used as a comparison benchmark for assessing other properties.

When examining the reasons a property listed significantly higher than comparables might attract several showings, it’s essential to focus on the underlying factors that contribute to that interest. A property could be positioned as a benchmark for assessing other properties on the market. Buyers and their agents might use it as a reference point to gauge the value of similarly sized or styled homes, even if they don't intend to purchase that particular high-priced listing. This situational context can lead to increased traffic as potential buyers investigate the high listing to understand the pricing landscape in the area. While some other options might involve elements like strategic marketing or inherent market dynamics, they don't address the notion of using such a listing specifically as a measuring stick for comparison. This comparative approach helps buyers contextualize value and pricing in their search for properties that meet their parameters, hence generating shows even for overpriced homes.