Humber/Ontario Real Estate Course 3 Exam Practice

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What obligations does a salesperson have regarding material facts for a seller client?

  1. Reliance on the seller's statements unless you detect inconsistencies

  2. Obligation to follow the seller's instructions not to disclose material facts

  3. Limiting research to facts the seller explicitly mentions

  4. Making reasonable attempts to discover and disclose all material facts

  5. Verify material facts only at the buyer's request

  6. Disclose facts only pertinent to property’s financial aspects

The correct answer is: Making reasonable attempts to discover and disclose all material facts

The obligation of a salesperson regarding material facts for a seller client is centered around the duty to act in the best interests of the client while ensuring transparency. Making reasonable attempts to discover and disclose all material facts aligns with the ethical and legal responsibilities that real estate professionals are bound by. This means that a salesperson must actively seek out, verify, and communicate any information that could significantly affect a buyer’s decision - even if that information is not explicitly identified by the seller. This diligence helps protect both the interests of the buyer, who has a right to know relevant information about the property, and the interests of the seller, whose integrity in the transaction benefits from full disclosure. By taking this thorough approach, the salesperson fulfills their role as a trusted intermediary and maintains compliance with the regulatory standards governing real estate transactions. The other options suggest actions that may compromise the standard of care expected from real estate professionals. Relying solely on the seller's statements without further investigation, following instructions to conceal material facts, or limiting research to what the seller has mentioned do not fulfill the ethical responsibility to ensure that buyers are fully informed before making a purchase. Moreover, verifying facts only at the buyer's request and disclosing only financial aspects neglects the breadth of information that is

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