Humber/Ontario Real Estate Course 2 Exam Practice

A salesperson assisting a buyer in a transaction should ensure the buyer is aware of:

1. All variable interest rates from proposed lenders

2. The importance of obtaining a property inspection

3. Historical property values in the neighborhood

4. Personal circumstances of the seller

5. The selling agent's commission rate

6. The market trend reports for at least five years

The correct answer is: The importance of obtaining a property inspection

For this question, the correct answer is B: The importance of obtaining a property inspection. Ensuring that a buyer is aware of the importance of obtaining a property inspection is crucial because it helps the buyer identify any potential issues or concerns with the property that may not be visible during a regular viewing. A property inspection can reveal hidden problems, such as structural issues, electrical or plumbing issues, mold, or pest infestations, which could affect the buyer's decision to purchase the property or the terms of the transaction. The other options are not directly relevant to a salesperson assisting a buyer in a real estate transaction. Variable interest rates from proposed lenders, historical property values in the neighborhood, personal circumstances of the seller, the selling agent's commission rate, and market trend reports are important factors in real estate transactions but may not be as critical for the buyer to be aware of directly from the salesperson when compared to the importance of obtaining a property inspection.