Humber/Ontario Real Estate Course 2 Exam Practice

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Which step is essential when a salesperson seeks to advertise a recently sold property?

  1. Directly inform the local real estate board first.

  2. Obtain prior consent exclusively from the listing brokerage.

  3. Seek written approval from both buyer and seller.

  4. Verify the advertisement content with brokerage legal advisor.

  5. Publish it after the property sale is recorded in the MLS.

  6. Request a permission letter from the city’s real estate council.

The correct answer is: Obtain prior consent exclusively from the listing brokerage.

When a salesperson seeks to advertise a recently sold property, it is essential to obtain prior consent exclusively from the listing brokerage. This step is crucial as the listing brokerage owns the rights to market and advertise the property. By obtaining consent from the listing brokerage, the salesperson ensures that they have the necessary permission to advertise the property without infringing on any legal or ethical boundaries. Option A is incorrect because while informing the local real estate board is important for record-keeping purposes, it is not the essential step when advertising a recently sold property. Option C is incorrect because while written approval from both the buyer and seller may be necessary for other aspects of the transaction, it is not specifically required for advertising a recently sold property. Option D is incorrect because while verifying advertisement content with a brokerage legal advisor is a good practice, it is not the essential step when seeking to advertise a recently sold property. Option E is incorrect because waiting for the property sale to be recorded in the MLS before advertising may delay the marketing process. It is crucial to obtain consent from the listing brokerage promptly to start advertising. Option F is incorrect because requesting a permission letter from the city's real estate council is not a standard procedure when seeking to advertise a recently sold property. The essential step is to obtain consent from the listing brokerage.

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