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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When a buyer client requests a market analysis from the salesperson, what is one critical aspect that should be included?

A complete history of previous owners.
A detailed summary of recent comparable sales.
Calculations of potential future market fluctuations.
Economic forecast for the next ten years.
Detailed nearby commercial activities.
Summary of all properties listed within the last decade in the area.

The correct answer is: A detailed summary of recent comparable sales.

When a buyer client requests a market analysis from a salesperson, a detailed summary of recent comparable sales is a critical aspect that should be included. This is because comparable sales, also known as comps, are used to determine the market value of a property by comparing it to similar properties that have recently sold in the area. By analyzing recent comparable sales, the buyer can gain a better understanding of the current market conditions and make an informed decision when it comes to purchasing a property. The other options are not as critical in a market analysis for a buyer client. While some information like economic forecasts or nearby commercial activities might be relevant, they are not as important as providing recent comparable sales data to help the buyer understand the current market value of the property they are interested in.