Negotiation, offer presentation and transaction management
This domain tests the live transaction: presenting offers, negotiating on the client's instructions, handling multiple offers, and carrying the file cleanly to closing. Questions target offer presentation duties, TRESA disclosure rules, counter-offers, condition management and record keeping.
Presenting and negotiating
The listing brokerage must present every offer promptly and follow the seller's lawful written instructions. The seller may accept, reject or counter; a counter revokes the original offer. Registrants must not disclose the substance of a competing offer unless the seller has given written direction under TRESA permitting disclosure, and even then personal and financial details remain protected. Bully or pre-emptive offers must be presented like any other; the seller decides whether to shorten the offer date.
Strategies and their limits
Escalation clauses, tight irrevocability windows and clean, condition-free offers are legitimate negotiation tools, but each must be explained and chosen by the client. Advise; do not decide. The client sets price and terms.
Managing the file to closing
Confirm deposit delivery and trust receipt; diarize every condition, waiver and fulfillment date; order the status certificate, survey or estoppel early; arrange the final walk-through; confirm keys and utility transfers; keep the trade record and correspondence for six years.
Worked example
A listing has an offer night at 7 p.m. A buyer's agent submits at 3 p.m. with a 5 p.m. irrevocability. The listing brokerage must present it immediately and tell the seller the irrevocable expires before offer night, so the seller must choose whether to accept, counter or let it lapse. If the seller has signed a written direction allowing disclosure, the brokerage may tell other registrants the substance of the offer; without that direction, silence.
Traps
- Holding an offer back to build competition - presentation must be prompt.
- Disclosing price or deposit details without the seller's written authority.
- Assuming an expiring financing condition protects the buyer by default.
- Relying on verbal instructions instead of documenting them in writing.