Humber/Ontario Real Estate Course 3 Exam Practice

A salesperson discovers a discrepancy between the actual and advertised property dimensions. What action should be taken?

1. Report the discrepancy to relevant municipal authorities.

2. Immediately notify the brokerage to correct the advertisement.

3. Ignore the discrepancy as insignificant.

4. Inform the buyer about the discrepancy.

5. Seek legal advice regarding potential liabilities.

6. Discuss with the seller to understand the reason for the error.

The correct answer is: Immediately notify the brokerage to correct the advertisement.

Notifying the brokerage to correct the advertisement is essential because accurate property dimensions are critical for maintaining transparency and integrity in real estate transactions. When a discrepancy is found between advertised and actual dimensions, it can lead to misinformation that affects buyers' decisions and the overall credibility of the real estate market. By alerting the brokerage, the advertisement can be amended to reflect the correct information, ensuring that potential buyers are not misled. Moreover, correcting the advertisement aligns with legal and ethical responsibilities to present accurate information to consumers. This action helps uphold industry standards and protects the interests of both the buyer and the seller by ensuring that all parties have the correct information when evaluating the property. Addressing the issue at this level also fosters trust between the brokerage, its agents, and clients. While other actions such as informing the buyer or discussing with the seller may seem necessary, they do not address the immediate need to correct the public information being presented. Reporting to municipal authorities, seeking legal advice, or ignoring the discrepancy are not proactive steps to ensure clarity and honesty in the transaction process.