Humber/Ontario Real Estate Course 1 Exam Practice

What should Salesperson Scott do in a strong seller's market when he knows of an interested buyer?

1. Limit his marketing activity to the one buyer in hopes of securing a full price offer

2. Aggressively promote the property to the entire marketplace

3. Delay promoting the listed property until the buyer has an opportunity to view it

4. Act in the best interests of the seller client because the buyer will give full listing price

5. Ensure only serious buyers have access to the property

6. Market the property exclusively to buyers within his network

The correct answer is: Aggressively promote the property to the entire marketplace

In a strong seller's market, where demand exceeds supply, the best approach for Salesperson Scott is to aggressively promote the property to the entire marketplace. This strategy is beneficial because it maximizes exposure and can create competitive bidding among multiple interested buyers. Such competition can lead to higher offers, potentially exceeding the asking price, and ultimately benefiting the seller. By casting a wide net in marketing the property, Scott ensures that he is leveraging the market conditions to achieve the best possible outcome for his client. Engaging a broad audience also aligns with a salesperson's duty to act in the best interests of the client, as it aims to secure the best financial outcome rather than focusing solely on a single interested buyer. This approach ensures that the seller's property is not undervalued and that he can take advantage of the favorable market conditions.