Illinois Real Estate Exam Practice Question
A contract is delivered to the listing broker by a cooperative broker who makes an appointment with the owner to present the offer at 7pm of that day. Before 7p.m, two more offers arrive on the same property. Which offer should be presented to the owner at the 7 p.m appointment?
Correct Answer: A
Rationale: Presenting all three offers to the owner ensures a comprehensive overview of the options available, allowing for informed decision-making. This approach respects the interests of all parties and promotes transparency in the negotiation process.
Option B, presenting only the first offer, limits the owner's choices and may not reflect the best market conditions. Option C, focusing solely on the highest sale price, overlooks other critical terms that could affect the sale. Option D, while considering favorable terms, may still exclude valuable offers that could benefit the seller in different ways. Presenting all offers fosters fairness and maximizes the seller's potential outcomes.
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