Humber/Ontario Real Estate Course 3 Exam Practice

What would be an added cost related to listing a property if the seller refuses to close due to not obtaining a desired home?

1. Marketing costs

2. Legal costs

3. Brokerage fees

4. Inspection fees

5. Remuneration to the brokerage

6. Staging service fees

The correct answer is: Remuneration to the brokerage

The answer regarding remuneration to the brokerage is relevant in the context of a seller refusing to close on a property due to not obtaining their desired home. When a seller engages with a brokerage to list their property, they typically agree to a commission or fee for the brokerage's services. If the seller decides not to proceed with closing, they may still have a contractual obligation towards the brokerage for the work done in marketing and promoting the property, even if the sale does not finalize. This means that the brokerage may still be entitled to receive their remuneration, regardless of the sale's outcome. While options like marketing costs, legal costs, brokerage fees, inspection fees, and staging service fees may also be impacted by the refusal to close, the remuneration to the brokerage stands out as a direct result of the seller's decision due to existing contractual obligations. Thus, it is the most pertinent cost to consider in relation to the listing of the property in this scenario.