Humber/Ontario Real Estate Course 3 Exam Practice

Which of the following is typically included in a seller customer service agreement?

1. Acknowledgment that the property is not currently listed for sale

2. Agreement that the brokerage will list the property at market value

3. Disclosure that the brokerage may collect a finder’s fee

4. A statement ensuring the brokerage is the seller’s agent

5. Commitment from the seller to make necessary repairs

6. Understanding that the seller will not seek other brokerages

The correct answer is: Acknowledgment that the property is not currently listed for sale

The correct answer highlights the importance of establishing clarity regarding the current status of the property in relation to the sale process. Including an acknowledgment that the property is not currently listed for sale serves to inform both the seller and the brokerage of the property's status, ensuring that there are no misunderstandings about whether the brokerage is being engaged to list an already active property or to initiate a listing from scratch. This acknowledgment is beneficial in guiding the brokerage's actions and aligning expectations for the seller's engagement in the real estate process. Other potential inclusions such as agreements on market value listing, brokerage fees, or obligations regarding repairs might also be components of various agreements, but they do not specifically relate to the foundational aspect of recognizing the property’s listing status. In addition, statements about the brokerage acting as the seller’s agent or the seller’s commitment not to engage other brokerages may be part of other agreements but are less essential in the context of customer service agreements specifically focused on current listing conditions.