Humber/Ontario Real Estate Course 3 Exam Practice

Which of the following is a critical duty of a real estate salesperson when dealing with a buyer customer?

1. Providing assurance about future land development based on assumptions

2. Acting based on seller's interests

3. Competently disclosing accurate, factual information

4. Relying on buyer's responsibility to investigate property details

5. Ensuring buyer's financial capacity

6. Fulfilling only the minimal statutory duties

The correct answer is: Competently disclosing accurate, factual information

The critical duty of a real estate salesperson when dealing with a buyer customer is to competently disclose accurate, factual information. This responsibility is foundational in ensuring a transparent and ethical transaction process. Buyers rely on salespersons to provide essential details about properties, including their condition, zoning regulations, and any relevant market data. By ensuring that all information is accurate and factual, real estate professionals help buyers make informed decisions that align with their needs and expectations. In this context, the salesperson's role extends beyond merely facilitating a transaction; they must act as a reliable source of information. This builds trust and maintains the integrity of the real estate profession. Competent disclosures protect not only the buyer's interests but also the salesperson and their brokerage from potential legal issues that may arise from misinformation or lack of transparency. Providing assurance about future land development based on assumptions is problematic because predictions about future developments can often be uncertain and speculative. Acting based on the seller's interests conflicts with the primary obligation to serve the buyer's needs. Relying on the buyer’s responsibility to investigate property details puts the onus of due diligence entirely on the buyer, which is not the balanced approach expected in a professional relationship. Ensuring a buyer's financial capacity, while important, is not exclusively a