Humber/Ontario Real Estate Course 4 Exam Practice

When presenting multiple offers, what must be ensured by the listing brokerage?

1. Each offer is presented in order received

2. Only offers above asking price are considered

3. A representative is present during the discussions

4. All offers are disclosed to all buyers

5. Only the highest bid is accepted

6. Confidentiality of all offers

The correct answer is: A representative is present during the discussions

The correct answer highlights the importance of having a representative present during the discussions when multiple offers are being considered. This ensures that all parties involved can communicate effectively and that the process remains transparent and fair. Having a representative present helps to facilitate discussions and allows for any concerns or questions to be addressed on the spot. In the context of presenting multiple offers, it is vital that the listing brokerage adheres to professional standards and ethical guidelines. While the other points might seem relevant or beneficial, they do not encapsulate the fundamental requirement of ensuring representation and support during discussions, which lays the foundation for a clear and equitable negotiating process. For example, presenting offers in order received or only considering those above asking price relates more to how offers are processed rather than the process of communication and representation during discussions. Disclosing all offers to all buyers could infringe upon confidentiality rights, and only accepting the highest bid disregards the seller’s potential interests in other terms or conditions that might come with different offers. Thus, ensuring a representative is present during discussions is crucial for maintaining clarity and fostering a professional and respectful environment.