Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

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A seller is approached by a buyer who wants to wait until the listing period expires. What is the correct course of action for the seller?

The seller can sell the property with no obligation to pay remuneration.
The buyer must purchase through the listing brokerage due to the listing period.
The seller must inform the listing brokerage of the buyer’s inquiry.
The seller must pay the full remuneration regardless of who sells the property.
The seller must wait for the listing to expire before proceeding.
The seller can ignore the request from the buyer and proceed with another offer.

The correct answer is: The seller must inform the listing brokerage of the buyer’s inquiry.

When a seller is approached by a buyer who wants to wait until the listing period expires, the correct course of action for the seller is to inform the listing brokerage of the buyer's inquiry. This is because the seller has an active listing agreement with the brokerage, and the brokerage has invested time and resources into marketing the property and finding a buyer. Option A is incorrect because the seller typically has a contractual obligation to pay remuneration to the listing brokerage if the property is sold during the listing period, regardless of who brings the buyer. Option B is incorrect as the buyer is not obligated to purchase through the listing brokerage just because the property is listed with them. The buyer can choose to wait until the listing expires and then make an offer directly to the seller. Option D is incorrect because the seller is only obligated to pay remuneration to the listing brokerage as agreed upon in the listing agreement if the property is sold during the listing period. Option E is not the best course of action as it may not be in the seller's best interest to wait for the listing to expire before proceeding with a potential buyer. Option F is not ideal because ignoring the request from the buyer may lead to legal complications or disputes, especially if the buyer is interested in purchasing the property after the listing expires. Therefore, option C, informing the listing brokerage of the buyer's inquiry, is the most appropriate course of action in this scenario.