Humber/Ontario Real Estate Course 3 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 3 Exam with our comprehensive quiz. Dive into engaging practice questions that will enhance your understanding and readiness for the test. Elevate your confidence and get ready to ace your exam!

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What can a seller do when faced with four competing offers?

Can reject all offers because there is no risk in doing so.
Is best to counter the two best offers at a higher price and, hopefully, create a bidding war between the two.
Can reject three offers and counter on the fourth.
Must accept one of the four competing offers.

The correct answer is: Can reject three offers and counter on the fourth.

When faced with four competing offers, a seller has several strategies they can employ, and one advantageous approach is to reject three offers and counter on the fourth. This strategic decision allows the seller to focus on the offer that they believe is the most promising or favorable for their situation, whether in terms of price, terms, or the buyer's qualifications. By countering on the fourth offer, the seller can engage in negotiations to try to secure better terms or a higher price. This option also gives the seller the flexibility to explore the best potential outcome without feeling pressured to accept any of the other competing offers. It emphasizes the importance of negotiation in real estate transactions, where the seller has the power to shape the terms in a way that aligns with their goals. While rejecting all offers or countering multiple offers might seem appealing, these strategies might not yield the best outcomes or could lead to missed opportunities. Therefore, concentrating on one offer and trying to improve it can be a more tactical approach in a competitive market.