Humber/Ontario Real Estate Course 1 Exam Practice

When listing a single-family residential home, what should an experienced salesperson do?

1. Always involve an appraiser when giving a listing price opinion

2. Must have at least five years experience to give a listing price opinion

3. Can give listing price advice based on their experience

4. Should not give any listing price opinion unless asked by the seller

5. Only suggest a price range without specifics

6. Should consult with the brokerage before listing any price

The correct answer is: Can give listing price advice based on their experience

An experienced salesperson should be familiar with the current market trends and comparable properties in the area, allowing them to give an accurate listing price opinion. Involving an appraiser for every listing may not be necessary and could potentially add unnecessary costs for the seller. Requiring a specific amount of experience may limit the expertise and skills of the salesperson. Additionally, not giving any listing price opinion unless asked by the seller could result in a higher or lower price than is appropriate for the property. Only suggesting a price range without specifics may not provide enough guidance for the seller to make an informed decision. Finally, consulting with the brokerage may not be necessary for every listing, as the salesperson may have enough knowledge and expertise to give a successful listing price opinion.