Humber/Ontario Real Estate Course 2 Exam Practice

If a buyer hints at giving a benefit to the salesperson, such as a gift certificate, what should be the sales agent's first step?

1. Accept the gift and keep it confidential

2. Accept it only if it's valued under a specific amount

3. Immediately reject any form of gifts from the buyer

4. Disclose the gift in writing to the seller

5. Notify the brokerage and await further guidance

6. Verbally inform the buyer of potential consequences

The correct answer is: Disclose the gift in writing to the seller

In this scenario, the correct answer is to disclose the gift in writing to the seller. It is essential for the sales agent to be transparent and disclose any potential gift from the buyer to the seller. This is crucial for maintaining integrity in the real estate transaction and ensuring all parties are aware of any benefits or potential conflicts of interest. Option A is incorrect as it suggests keeping the gift confidential, which goes against the principle of transparency and disclosure in a real estate transaction. Option B is not the best course of action as setting a specific value limit on gifts can be arbitrary and might not fully address the potential conflict of interest. Option C of immediately rejecting any form of gifts from the buyer might not be necessary if the gift is disclosed appropriately to the seller. Option E of notifying the brokerage and awaiting further guidance delays the necessary disclosure to the seller, which should be the primary concern in this situation. Option F of verbally informing the buyer of potential consequences is not as important as ensuring the seller is aware of the gift, as the seller is the principal party in the real estate transaction.