Humber/Ontario Real Estate Course 3 Exam Practice

What is correct if Salesperson Harb wants to list Seller Padella's property with a unique agreement duration due to special conditions?

1. Salesperson Harb cannot list the property for more than a maximum six-month period according to REBBA.

2. Salesperson Harb can list the property up to a maximum of one year according to REBBA, but only if the real estate board rules allow it.

3. Salesperson Harb cannot list the property for more than 120 days, as the maximum time period under contract law is 8 months.

4. Salesperson Harb can list the property until November 30th, provided the expiry date is prominently displayed and the seller's initials are obtained.

5. Salesperson Harb needs to obtain special approval from REBBA for durations longer than 6 months.

6. Salesperson Harb can list the property for up to 18 months with mutual agreement from both parties.

The correct answer is: Salesperson Harb can list the property until November 30th, provided the expiry date is prominently displayed and the seller's initials are obtained.

In the context of real estate agreements in Ontario, when a salesperson wants to list a property with a unique duration due to special conditions, the requirements surrounding the expiry date of the listing agreement are crucial. The correct response indicates that Salesperson Harb can list Seller Padella's property until November 30th, as long as the expiry date is prominently displayed in the agreement and the seller's initials are obtained to ensure their acknowledgment and consent. This approach reflects important principles of clarity and consent in contractual agreements. It is essential that any deviation from standard practices is communicated effectively to prevent misunderstandings. By requiring the expiry date to be clearly displayed and ensuring the seller acknowledges it through their initials, the agreement adheres to best practices and legal standards which help in maintaining transparency between the parties involved. Other choices address various aspects of listing durations that may not apply in this scenario. They suggest rigid restrictions or requirements that do not account for unique conditions or agreements reached between the salesperson and the seller, making them less applicable to this situation. Therefore, understanding the importance of clear communication of the listing duration and the seller's acknowledgment is paramount, which is why the chosen answer holds merit in this context.