Humber/Ontario Real Estate Course 4 Exam Practice

When disclosing offer information, what must a listing agent share with other sales representatives?

1. The total number of offers received

2. The buyer’s personal information

3. The specific offer prices

4. Any conditional aspects of the offers

5. Commissions offered

6. Seller’s counter terms

The correct answer is: The total number of offers received

When it comes to disclosing offer information, the listing agent is required to share the total number of offers received with other sales representatives. This requirement is rooted in promoting transparency within the real estate market and ensuring that all parties involved are aware of the level of interest in the property. This information can help other agents gauge the competition and strategize their approach for their clients. While it might be important for agents to know other aspects related to the offers, such as specific offer prices, conditions, commissions, or personal information, these details are generally considered confidential and cannot be disclosed without the consent of the involved parties. Thus, providing the total number of offers allows agents to operate within a fair and competitive environment, without compromising the privacy or intentions of the buyers or sellers involved.