Humber/Ontario Real Estate Course 3 Exam Practice

Which statement is correct regarding a seller customer service agreement?

1. The broker of record must sign on behalf of the brokerage

2. The brokerage must offer legal duty to the seller under this agreement

3. The brokerage has an ethical duty to deal honestly with the seller

4. The agreement's period cannot exceed six months

5. The listing salesperson must sign the agreement

6. The agreement automatically renews after six months

The correct answer is: The brokerage has an ethical duty to deal honestly with the seller

In the context of real estate, a seller customer service agreement outlines the relationship between the seller and the brokerage. When examining the correct statement regarding this agreement, it is essential to recognize the significance of ethical duties in the real estate profession. The brokerage has an ethical obligation to deal honestly with the seller, which encompasses transparency, integrity, and fairness in transactions. This ethical duty is critical to fostering trust and maintaining professional standards within the industry. It ensures that the seller is fully informed and can make educated decisions throughout the selling process. Adhering to ethical responsibilities not only protects the interests of the seller but also enhances the reputation of the brokerage in the marketplace. Understanding this ethical duty enriches your knowledge of professional standards and regulatory expectations in real estate practice. Other options may reference specific procedural aspects or variables that could be influenced by varied circumstances, but the fundamental obligation to act with honesty and integrity remains paramount in all dealings within the real estate context.