Humber/Ontario Real Estate Course 4 Exam Practice

How should relevant market information be used by a salesperson during a counter offer negotiation?

1. Underplay the significance of the information.

2. Provide it selectively to leverage the offer.

3. Offer it to assist the buyer's decision-making.

4. Emphasize only benefits for accepting higher offers.

5. Avoid sharing unless explicitly asked by the buyer.

6. Supplement it with opinions rather than facts.

The correct answer is: Offer it to assist the buyer's decision-making.

Using relevant market information is crucial for a salesperson during a counter offer negotiation. When a salesperson offers this information to assist the buyer's decision-making, it helps paint a clearer picture of the market context. By doing so, the salesperson supports the buyer in making informed choices based on the current trends, comparable properties, and pricing strategies. This approach not only builds trust between the buyer and the salesperson but also enhances the credibility of the offer being presented. Providing accurate market data helps the buyer understand the competitive nature of the market, which can lead to a more rational decision about whether to accept the counter offer. It positions the salesperson as a knowledgeable ally, guiding the buyer through the complexities of the negotiation rather than merely trying to push a sale. In contrast, various other approaches might limit transparency or fail to support the buyer's needs, which could ultimately hinder the negotiation process. By prioritizing the buyer's decision-making with relevant information, the salesperson fosters a more collaborative and constructive negotiation environment.