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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Which statement best applies to a seller representation agreement?

It’s established between brokerage and seller customer.
It must exclusively represent the seller’s interests.
Must be reviewed by the buyer’s lawyer.
It can include some property details for advertisement.
It must grant legal authority to the client.
It’s a non-binding understanding between brokerages.

The correct answer is: It can include some property details for advertisement.

Option D is the correct answer because a seller representation agreement can include some property details for advertisement. This agreement outlines the terms and conditions of the representation between the seller and the brokerage, including the information that can be used for marketing and advertising the property. The agreement allows the brokerage to promote the property effectively to attract potential buyers. Options A, B, C, E, and F are incorrect: A. It is established between the brokerage and the seller, not the seller customer. B. While the agreement should represent the seller's interests, it does not necessarily have to exclusively do so. C. The seller representation agreement does not need to be reviewed by the buyer's lawyer as it pertains to the relationship between the seller and the brokerage. E. While the agreement outlines the representation terms, it does not grant legal authority to the client. F. A seller representation agreement is a binding contract between the seller and the brokerage, not a non-binding understanding.