Arkansas Real Estate Practice Exam

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Prepare for the Arkansas Real Estate Exam with comprehensive quizzes featuring multiple-choice questions and detailed explanations. Boost your confidence and knowledge, ensuring you're ready to tackle the licensing exam successfully!

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What is the protocol for presenting offers on a property?

  1. Offers must be presented by the selling licensee within 48 hours

  2. All offers must immediately be presented to the seller

  3. Offers should be accumulated and presented weekly

  4. Only the highest offer needs to be presented

The correct answer is: All offers must immediately be presented to the seller

Each option except for B disregards the importance of presenting all offers to the seller. Option A limits the selling licensee's responsibility to presenting offers within a specific timeframe, which may cause them to overlook other offers that come in after the deadline. Option C suggests delaying the presentation of offers, which may cause delays and potentially cause buyers to withdraw their offers. Option D suggests only presenting the highest offer, which may not align with the seller's goals or preferences. Therefore, option B - immediately presenting all offers to the seller, is the correct protocol to ensure an open and transparent offer process.

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