Iowa Real Estate Practice Exam

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What should a listing company do when presented with multiple offers on a property?

Inform the seller that only one offer exists
Call the owner and explain that multiple offers will be presented
Decline to present any offer
Present only the highest offer to the seller

The correct answer is: Call the owner and explain that multiple offers will be presented

When a listing company is presented with multiple offers on a property, the best practice is to call the owner and explain that there are multiple offers for consideration. This approach fosters transparency and allows the seller to make an informed decision based on all available options. Presenting all offers to the seller is crucial because it enables them to weigh the terms, conditions, and pricing of each offer carefully. Being informed about the existence of multiple offers not only equips the seller to negotiate better but also enhances their chances of securing the most favorable deal. It also builds trust between the listing company and the seller, as they appreciate being kept in the loop about significant developments in the sales process. Thus, communicating clearly and fully about multiple offers supports effective decision-making for the seller.