A seller receives three competing offers on the same day, with different conditions and closing dates. What is the most appropriate way for the listing agent to handle this situation?
Correct Answer
A) Present all offers to the seller simultaneously and let them choose
The listing brokerage must convey every written offer to the seller as soon as possible (O. Reg. 567/05 s. 22.10) and advise the seller on each, while the seller decides which, if any, to accept or counter. With three offers in hand the same day, reviewing them together lets the seller compare price, conditions and closing dates, and each buyer must be told how many competing written offers there are (s. 22.7).
Why This Is the Correct Answer
This answer keeps the decision with the seller: every offer is conveyed promptly, as s. 22.10 requires, and reviewed together so the seller, with the agent's advice, can weigh price, conditions and closing dates and choose.
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A seller receives three competing offers on the same day, with one offer having no conditions, one with a financing condition, and one with both financing and inspection conditions. All offers are at the same price. What factor should the listing agent emphasize when presenting these offers?