Humber/Ontario Real Estate Course 4 Exam Practice

What is the Benjamin Franklin technique primarily used for?

1. Used when meeting new prospects in a farming area.

2. Based on listing all pros and cons from the buyer's perspective, when considering a specific property.

3. Not applicable to property showings, but very effective for meeting potential buyers.

4. Process of outlining home ownership advantages.

5. Negotiating terms of the mortgage directly.

6. Comparing potential properties for a client.

The correct answer is: Based on listing all pros and cons from the buyer's perspective, when considering a specific property.

The Benjamin Franklin technique is a decision-making tool utilized to facilitate clear reasoning when evaluating options, especially in real estate contexts. The essence of this method lies in making a comprehensive list of pros and cons related to a particular choice or property. By doing so, it helps buyers weigh their options through a structured format, allowing them to visualize the advantages and disadvantages clearly. This approach can lead to more informed decision-making. In this context, using the technique to list all pros and cons from a buyer's perspective when considering a specific property is highly relevant. It encourages a thoughtful examination of what a property offers compared to the buyer's needs and preferences, ultimately aiding them in justifying their decision. The other aspects mentioned in the options do not directly embody the core purpose of the Benjamin Franklin technique, which specifically focuses on evaluating decisions through a advantages-disadvantages framework.