Humber/Ontario Real Estate Course 4 Exam Practice

Regarding prospective buyers at open houses, which statement is accurate?

1. Open houses offer restricted exposure to potential buyers, because your client relationship with the seller limits your ability to ask open house visitors questions about their own plans for buying property.

2. Given privacy and other concerns, there is limited benefit in obtaining sign-in sheet contact information in order to communicate later with potential buyers.

3. If an open house visitor is not represented by another real estate salesperson, the salesperson holding the open house can offer to connect with that buyer to assist in locating a suitable property.

4. If an open house visitor is unhappy with the brokerage that is currently representing that individual as a seller, then the salesperson holding that open house should recommend they seek alternate representation.

5. Open houses generally do not attract serious buyers.

6. All open house visitors must be assumed to have representation.

The correct answer is: If an open house visitor is not represented by another real estate salesperson, the salesperson holding the open house can offer to connect with that buyer to assist in locating a suitable property.

The correct statement emphasizes the opportunity for a salesperson conducting an open house to connect with unrepresented visitors. When an open house visitor does not have representation from another real estate salesperson, the hosting agent can step in to assist them. This connection is important because it allows the agent to provide guidance and resources that may help the visitor in their property search. Establishing a rapport with these visitors can be beneficial for both parties; the potential buyer gains valuable assistance in navigating the market, and the salesperson has the chance to cultivate a client relationship. This aligns with the general practice in real estate, where agents can assist buyers throughout their property journey, especially when those buyers may be exploring their options. The other statements do not accurately capture the dynamics of open houses or misrepresent the agent's ability to assist potential buyers. Restricted exposure due to the seller-buyer relationship is not entirely correct, as agents can engage with unrepresented buyers. Privacy concerns may indeed exist, but obtaining sign-in sheet information is valuable for follow-up communication. Recommendation of alternate representation isn't typically the agent's role, especially if the visitor is expressing dissatisfaction. Lastly, it is a common misconception that open houses do not attract serious buyers; many attendees can be genuinely interested in purchasing property.