Tennessee 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 ensures they have a complete view of their options, allowing for informed decision-making. Each offer may have different terms that could appeal to the seller in various ways.
Option B, presenting only the first offer, overlooks potentially more favorable terms in later submissions. Option C, focusing solely on the highest sale price, ignores other critical factors such as contingencies or closing timelines that could affect the seller's overall satisfaction. Option D, while considering favorability, might still miss valuable alternatives. Thus, presenting all offers is the most comprehensive approach.
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