Humber/Ontario Real Estate Course 4 Exam Practice

In a strong seller's market, what should a salesperson do to ensure the best interest of a seller client?

1. Limit marketing to one interested buyer

2. Act in the best interests of the seller by focusing on one buyer

3. Aggressively promote the property to the market

4. Delay promotion to give one buyer a viewing opportunity

5. Accept the first full price offer

6. Skip promotions to save marketing costs

The correct answer is: Aggressively promote the property to the market

In a strong seller's market, aggressively promoting the property to the market is crucial for ensuring that the seller client achieves the best possible outcome. This approach typically leads to increased visibility, potentially driving up interest and competition among buyers. With more exposure, the seller is more likely to receive multiple offers, which can elevate the selling price above the listed amount due to bidding wars. Promoting the property widely can involve using various marketing channels, such as online listings, social media, open houses, and more traditional advertising methods. This strategy not only informs potential buyers about the availability of the property but also positions the seller to negotiate from a place of strength, capitalizing on the competitive nature of a seller's market. In contrast, limiting marketing efforts or focusing exclusively on one buyer could lead to missed opportunities where other buyers might be willing to offer more favorable terms. Similarly, delaying promotion can prevent the seller from leveraging the current market conditions effectively. Accepting the first full-price offer without considering additional options or offers may not yield the best financial results. Lastly, skipping promotions altogether would significantly reduce the chances of attracting potential buyers, which is counterproductive in a thriving market.