Humber/Ontario Real Estate Course 2 Exam Practice

What is an advantage of distributing sold cards in a neighborhood?

1. The buyer never has to be consulted when distributing these cards

2. The seller's consent is not required

3. Neighbours become aware of a sale which has recently occurred

4. The seller's consent is only required if the sale price exceeds $500,000

5. The seller can decline to have cards distributed

6. The buyer is informed first before cards are distributed

The correct answer is: Neighbours become aware of a sale which has recently occurred

Distributing sold cards in a neighborhood has an advantage in creating an awareness among neighbors about a recent sale that has taken place. This communication can be beneficial for both the community and the real estate market as a whole. By letting neighbors know about recent sales, it can help to establish a sense of transparency and openness in the neighborhood. Additionally, it can also serve as a marketing strategy by showcasing successful sales and potentially attracting more buyers or sellers in the area. This can contribute to a more informed and connected community and can potentially lead to increased property values as well. Option A: The buyer does not need to be consulted about distributing sold cards because the focus is on notifying the neighbors, not the buyer. Option B: Seller's consent is typically required before distributing sold cards, as it involves sharing the details of their property transaction. Option D: The sale price does not dictate whether the seller's consent is required for distributing sold cards, as it is usually at the discretion of the seller. Option E: Sellers usually have the right to decline having sold cards distributed, but this does not negate the advantage of creating awareness among neighbors. Option F: While informing the buyer first may be polite, the primary advantage lies in communicating the sale to neighbors.