Humber/Ontario Real Estate Course 2 Exam Practice

With four offers on a listed home with varying terms and prices, what is required for the presentation?

1. Only the highest offers should be presented

2. A representative from the listing brokerage must be present

3. All offers must be presented in the order received

4. The $475,000 offer shouldn't be reviewed as higher offers are available

5. Only unconditional offers should be considered

6. Only offers above the listed price should be evaluated

The correct answer is: A representative from the listing brokerage must be present

In Ontario, it is mandatory for a representative from the listing brokerage to be present when presenting offers on a listed property. This is to ensure transparency, fairness, and to protect the interests of both the seller and potential buyers. It is essential for a professional from the listing brokerage to oversee the presentation of all offers on the property to uphold ethical standards and legal requirements in real estate transactions. Options C, D, E, and F are not correct because in a multiple-offer situation, all offers must be presented to the seller, regardless of their terms or prices. It is the seller's decision on which offer to accept, reject, or counter, and each offer should be reviewed and presented in accordance with the seller's best interests and preferences.