Humber/Ontario Real Estate Course 3 Exam Practice

What should be done if an advertisement lacks mandatory details as per the Code of Ethics?

1. Correct it immediately to include the necessary details.

2. Wait for the end of the contract period to make corrections.

3. Only correct it if complaints are made.

4. Small print can be added to correct the oversight.

The correct answer is: Correct it immediately to include the necessary details.

The correct approach when an advertisement lacks mandatory details, as stipulated by the Code of Ethics, is to correct it immediately to include the necessary details. This aligns with the ethical obligations that real estate professionals have to provide accurate and complete information in their communications to the public. By ensuring that all mandatory details are present, you maintain transparency and trust, which are essential components in the practice of real estate. Addressing inaccuracies or omissions right away helps to protect consumers from misleading information and upholds the integrity of the profession. Additionally, it demonstrates a proactive approach to compliance with regulatory requirements, thus fostering a better reputation within the industry. The other practices, such as waiting until the end of a contract period to make corrections or only fixing the advertisement in response to complaints, could potentially harm consumers and violate ethical standards. Adding small print as a correction does not effectively address the issue, as it may still lead to misunderstandings and does not fulfill the requirement for clear communication.