Humber/Ontario Real Estate Course 4 Exam Practice

What should Seller Wilson know about delaying offer presentations?

1. Salespersons cannot delay due to ethics rules.

2. Buyers are barred from submitting pre-emptive offers.

3. Salespersons must present pre-emptive offers promptly.

4. Sellers have the final say on handling pre-emptive offers.

5. Sellers must accept offers presented sooner than agreed.

6. Only cash offers can be delayed.

The correct answer is: Sellers have the final say on handling pre-emptive offers.

Seller Wilson should recognize that sellers have the final say on how to handle pre-emptive offers. This means that while there are standard practices and guidelines that real estate professionals must follow, ultimately, it is the seller who decides how they wish to handle incoming offers, including whether to allow or delay the presentation of pre-emptive offers. This understanding ensures that the seller is aware of their authority in the transaction process, allowing them to make informed decisions regarding their sales strategy. This includes setting conditions for when offers may be presented and the discretion to negotiate based on their selling timeline and personal circumstances. Other options, while they touch on related regulations or practices, do not fully encapsulate the seller's control in decision-making regarding pre-emptive offers. For example, some choices focus on actions of the salespersons or buyers that may not accurately reflect the seller's autonomy. Thus, the emphasis on the seller's ultimate authority in this scenario is essential for understanding the dynamics of real estate transactions.