Humber/Ontario Real Estate Course 3 Exam Practice

Which of the following is NOT a source document that supports the listing agreement and listing data sheet?

1. Final tax notice for the current or previous year

2. GeoWarehouse report

3. Rental agreement contract(s)

4. A copy of a prior listing agreement

The correct answer is: A copy of a prior listing agreement

A prior listing agreement is not considered a source document that supports the current listing agreement and listing data sheet because it pertains to an earlier transaction rather than providing current or applicable information about the property. The listing agreement and listing data sheet require documentation that verifies essential aspects of the property being listed, such as tax information, property characteristics, and current rental arrangements. In contrast, the final tax notice for the current or previous year is relevant as it details the property’s assessed value and tax status. The GeoWarehouse report provides valuable information related to property details including ownership history and land use, which aids in the marketing efforts. Rental agreement contracts could offer insights into existing tenants and rental income potential. These documents directly support the context and accuracy of the current listing, while a prior listing agreement does not provide the same level of current relevance or support.