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.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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What duty does a brokerage have under a seller customer service agreement?

The broker of record must sign on behalf of the brokerage.
Legal duty of due care to the seller.
Ethical duty to deal honestly with the seller.
Time period cannot exceed six months.
Must provide market analysis upon request.
Include comprehensive marketing plans.

The correct answer is: Ethical duty to deal honestly with the seller.

In a seller customer service agreement, a brokerage has an ethical duty to deal honestly with the seller. This means that the brokerage must provide accurate information, be transparent in their dealings, and act in the best interests of the seller. This ethical duty helps ensure trust and integrity in the real estate transaction. Option A is not correct because the broker of record is not required to sign on behalf of the brokerage in a seller customer service agreement. Option B is not correct because the legal duty of due care to the seller is a general obligation that exists in real estate transactions, but it is not specifically related to a seller customer service agreement. Option D is not correct because there is no regulation stating that the time period in a seller customer service agreement cannot exceed six months. Option E is not correct because providing a market analysis upon request is not a specific duty outlined in a seller customer service agreement. Option F is not correct because including comprehensive marketing plans is not a specific duty outlined in a seller customer service agreement, although it may be a good practice in real estate transactions.