How does a seller's market affect a salesperson's schedule?

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Prepare for the Real Estate Council of Ontario (RECO) Exam. Use flashcards and multiple-choice questions, each with hints and explanations. Get ready for your exam!

In a seller's market, the demand for properties exceeds the supply, leading to increased competition among buyers. This heightened competition means that when a property is listed, offers can come in rapidly and unpredictably. As a result, salespersons must be prepared for immediate responses to offers. If a buyer is interested in a property, they may need to act quickly to submit a competitive offer before others do.

Timeliness is crucial in this scenario; failing to respond promptly can result in losing out to another buyer who is prepared to act swiftly. Therefore, salespersons must prioritize their schedules to ensure they can respond instantly and manage the urgency of client needs effectively. This condition shapes their daily routines around the unpredictable influx of offers rather than allowing for a more relaxed approach to planning their work. It’s critical for salespeople to be ready at a moment's notice to engage with offers and negotiate on behalf of their clients.

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