Humber/Ontario Real Estate Course 3 Exam Practice

A seller has multiple offers from different brokerages. What are their options?

1. Must choose the best offer and either accept or counter it

2. Can accept one offer, reject all offers, or counter one offer

3. Should counter multiple offers simultaneously

4. Must first address offers from the listing brokerage before handling offers from other brokerages

5. Should hold an auction between the offers

6. Can disregard offers from the competing brokerage initially

The correct answer is: Can accept one offer, reject all offers, or counter one offer

In a situation where a seller receives multiple offers from different brokerages, the correct option is B: Can accept one offer, reject all offers, or counter one offer. This is because the seller has the flexibility to choose the best course of action based on the offers received. They are not obligated to accept or counter any specific offer, and they have the right to reject all offers if none align with their expectations or needs. Option A is incorrect because the seller is not obligated to choose the best offer and can reject or counter any offer they receive. Option C is incorrect as it is not common practice for sellers to counter multiple offers simultaneously. Usually, sellers evaluate each offer separately before making a decision. Option D is incorrect as the seller is not required to address offers from the listing brokerage before handling offers from other brokerages. All offers should be reviewed and considered based on their individual merits. Option E is incorrect as holding an auction between the offers is not a typical or recommended approach in real estate transactions. Option F is incorrect because offers from competing brokerages should be considered equally alongside offers from the listing brokerage. Sellers should evaluate all offers based on their terms and conditions, regardless of the brokerage representing the buyer.