Humber/Ontario Real Estate Course 3 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 3 Exam with our practice quizzes. Study using multiple-choice questions complete with hints and explanations. Ace your exam with confidence!

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In an advertisement, what must be clearly disclosed for a promise such as "I will buy your house if not sold in 90 days"?

Detailed terms and conditions of the promise
Comparable sales data
Real estate agent’s personal history
Indemnity clauses
Bank guarantees
Listing price cap

The correct answer is: Detailed terms and conditions of the promise

When an advertisement includes a promise such as "I will buy your house if not sold in 90 days", it is essential to disclose the detailed terms and conditions of that promise. This is important because buyers and sellers need to understand the specific requirements, limitations, and obligations associated with the offer. Clarity around the terms helps to protect both the consumer and the real estate professional, ensuring that there are no misconceptions about what the promise entails or what actions the seller must take to trigger the guarantee. This transparency is also a legal requirement in many jurisdictions to avoid misleading advertising. By providing detailed terms and conditions, the advertiser can ensure that potential clients are fully informed, fostering trust and preventing disputes that may arise from unclear promises. In this case, the focus is on clarity in advertising offers in real estate transactions, which falls under consumer protection laws. The other options would not address the core requirement of transparency and clarity needed when making such a promise in advertising.