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 dealing with a listing for a home that is a matrimonial property, which mistake should a salesperson avoid?

Failing to disclose property defects openly.
Making errors in the seller representation agreement.
Not including the non-owner spouse’s name in the agreement.
Overpricing a property without market analysis.
Misrepresenting the property's potential value.
Disregarding local zoning laws.

The correct answer is: Not including the non-owner spouse’s name in the agreement.

When dealing with a matrimonial property, a salesperson must be careful to include the non-owner spouse's name on the agreement to avoid potential legal complications. Options A, B, D, E, and F all have potential negative consequences, but they do not directly relate to the issue of a matrimonial property. Failing to disclose property defects openly could result in legal issues, making errors in the seller representation agreement could lead to disputes, overpricing a property without market analysis could lead to a lack of interest from potential buyers, misrepresenting the property's potential value could result in lawsuits, and disregarding local zoning laws could result in penalties or delays. Therefore, while all these mistakes should be avoided, it is most important to ensure that the non-owner spouse's name is included on the agreement when dealing with a matrimonial property.