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 obligation does an agent have after receiving a new offer for a listed property?

Hold the offer until another offer can be sourced.
Present the offer immediately to the client.
Submit the offer with other received offers simultaneously.
Review the offer with other agents before presenting.

The correct answer is: Present the offer immediately to the client.

The obligation of an agent after receiving a new offer for a listed property is to present the offer immediately to the client. This duty stems from the agent's fiduciary responsibility to act in the best interest of their client. Presenting the offer promptly allows the client to make informed decisions about their property, ensuring they do not miss out on potential opportunities or advantageous terms. The agent's role is to facilitate communication and provide guidance, but ultimately, it is up to the client to evaluate the offer and decide how to proceed. Other options do not align with the agent's responsibilities. Holding the offer until another offer is sourced could be seen as neglecting the current offer. Submitting the offer with others may delay the client's response and does not prioritize the offers as they come in. Similarly, reviewing the offer with other agents before presenting it could unnecessarily complicate the decision-making process for the client, violating the duty of loyalty and prompt communication.