New Jersey Real Estate License Exam Practice Question
A contract is delivered to the listing broker by a cooperating broker. The listing broker makes an appointment with the owner to present the offer at 7 p.m. of that day. Before 7 p.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 provides a comprehensive view of the options available, allowing for informed decision-making. Each offer may have unique terms that could appeal to the seller, beyond just price.
Option B, presenting only the first offer, limits the seller's choices and may not reflect the best available terms.
Option C focuses solely on price, disregarding other critical factors such as contingencies or closing timelines that could impact the seller's situation.
Option D, while considering favorable terms, still narrows the focus to one offer, potentially overlooking better alternatives presented later. Thus, presenting all offers ensures the seller can evaluate the complete landscape.
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