Humber/Ontario Real Estate Course 4 Exam Practice

In a buyer's market where several comparable properties are unsold, what advice is appropriate for a new seller?

1. Consider delaying offer presentations to create demand

2. Be prepared to carefully consider any incoming offer

3. Market conditions are like a seller's market

4. Seek a large deposit to ensure commitment

The correct answer is: Be prepared to carefully consider any incoming offer

In a buyer's market where there are several comparable properties unsold, it is crucial for a new seller to be prepared to carefully consider any incoming offer. In a buyer's market, there is usually more supply than demand, leading to competition among sellers to attract buyers. By being open and receptive to incoming offers, the seller increases the chances of making a successful sale despite the challenging market conditions. Option A is not the best advice as delaying offer presentations may not necessarily create demand in a market where supply exceeds demand. Option C is inaccurate because market conditions in a buyer's market are not similar to a seller's market, as there is less competition among buyers and more negotiating power for buyers in a buyer's market. Option D, seeking a large deposit to ensure commitment, might deter potential buyers in a buyer's market where buyers have more options available to them.