New Jersey Real Estate 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 is essential to ensure the seller has a comprehensive understanding of their options. Each offer may contain different terms, contingencies, and pricing that could impact the seller's decision.
Option B, presenting only the first offer, ignores potentially better terms in subsequent offers. Option C, focusing solely on the highest sale price, overlooks other critical aspects like contingencies and closing timelines that could affect the seller's interests. Option D, while considering favorability, could inadvertently exclude viable options that may better suit the seller's overall needs. Thus, presenting all offers allows for an informed and balanced decision.
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