Humber/Ontario Real Estate Course 3 Exam Practice

What should a salesperson do when there is a misunderstanding between the buyer and seller regarding included chattels in a property sale?

1. Clarify and resolve the misunderstanding immediately.

2. Propose that both parties seek legal advice.

3. Refer the matter to the broker of record for resolution.

4. Have both parties sign a statement acknowledging the misunderstanding.

5. Leave it up to the lawyers to handle during closing.

6. Record the details of the misunderstanding for future reference.

The correct answer is: Clarify and resolve the misunderstanding immediately.

When there is a misunderstanding between the buyer and seller regarding included chattels in a property sale, it is essential for the salesperson to clarify and resolve the misunderstanding immediately. This proactive approach helps to ensure that both parties are on the same page regarding what is included in the sale, which can prevent further disputes or complications down the line. Addressing the issue right away fosters good communication and demonstrates professionalism, which can build trust with both the buyer and the seller. This resolution process may involve discussing the specific chattels in question and confirming their inclusion in the sale to ensure that both parties agree and understand the terms. Doing this helps to facilitate a smoother transaction and can prevent potential delays in the closing process. The focus on immediate clarification minimizes misunderstandings and ensures that all parties are aligned, which is crucial for maintaining positive relationships and ensuring a successful sale. Overall, this approach highlights the salesperson's role as a mediator and a facilitator in the transaction process.