Humber/Ontario Real Estate Course 3 Exam Practice

When a brokerage secures a seller customer service agreement, what do they guarantee to the seller?

1. The automatic right to place a sold sign on the property, once sold.

2. A copy of the agreement will be sent to the seller within two business days.

3. The deposit held by the brokerage can be applied against any due remuneration.

4. The seller will receive immediate online access to the agreement.

5. A portion of the brokerage commission can be waived.

6. The brokerage will be the exclusive listing agent for a period of six months.

The correct answer is: The deposit held by the brokerage can be applied against any due remuneration.

When a brokerage secures a seller customer service agreement, they guarantee to the seller that the deposit held by the brokerage can be applied against any due remuneration. This means that the seller can rest assured that the deposit they provide is secured and can be utilized to cover any commissions or fees owed to the brokerage upon the successful sale of the property. Option A is incorrect because the placement of a sold sign on the property is not guaranteed by securing a customer service agreement. Option B is incorrect as it pertains to sending a copy of the agreement to the seller within a specific timeframe, which is not the main guarantee given. Option D is incorrect as immediate online access to the agreement is not typically a specific guarantee made to the seller when securing the agreement. Option E is incorrect as the waiver of a portion of the brokerage commission is not mentioned as a standard guarantee of the customer service agreement. Option F is incorrect as it speaks to the exclusivity of the listing agent for a timeframe, which is not the key guarantee provided by securing the agreement.