Humber/Ontario Real Estate Course 3 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 3 Exam. Study with challenging questions and detailed explanations to enhance your understanding. Get ready to excel in your exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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When acting in the buyer's best interests, what must a salesperson do?

A salesperson is only obligated to show properties to a buyer client that they have expressly requested to see.
A salesperson must protect the buyer client's best interests, but not a buyer customer's best interests.
Working with appropriate third-party professionals is an important duty when representing a buyer customer.
When negotiating an offer for a buyer client, the salesperson should disclose the buyer's motivation to purchase.

The correct answer is: A salesperson must protect the buyer client's best interests, but not a buyer customer's best interests.

A salesperson's obligation to protect the buyer client's best interests is a fundamental aspect of the fiduciary duty that real estate professionals owe to their clients. This duty includes loyalty, confidentiality, and putting the client's interests above their own. By focusing on the buyer's position as a client, the salesperson must take proactive steps to advocate for and support that client's goals and needs throughout the buying process. This includes thorough market research, negotiating effectively on behalf of the client, and ensuring that the client understands all options available to them. The emphasis on acting in the best interests of a buyer client over a buyer customer acknowledges the greater level of responsibility and trust placed on the salesperson when a formal client relationship is established. Consequently, the salesperson must prioritize the buyer client's interests, which could include negotiating terms that provide the best value and advice tailored to the buyer’s situation, while a buyer customer does not have the same level of protected interests. Other options may not fully encapsulate the broader duty of a salesperson in the context of a buyer client relationship or may describe responsibilities that are either less comprehensive or relevant under a customer relationship, where the fiduciary duties do not apply in the same way.