Humber/Ontario Real Estate Course 4 Exam Practice

What action should a seller take to reduce the listing price through Salesperson Clark's brokerage?

1. Provide written instruction to the brokerage; an amendment can be used.

2. Seller must contact the local real estate board directly.

3. Cancel the current listing and create a new agreement.

4. Seller's signature alone on an amendment form is sufficient.

5. A legal audit of the listing agreement is needed.

6. Speak directly with the brokerage manager for approval.

The correct answer is: Provide written instruction to the brokerage; an amendment can be used.

The proper action for a seller to take in order to reduce the listing price through Salesperson Clark's brokerage is to provide written instruction to the brokerage, as an amendment can be utilized for this purpose. This process ensures that there is a formal record of the seller's request to make changes to the existing listing agreement, which not only protects the interests of both parties but also ensures compliance with the brokerage's policies and relevant real estate regulations. Utilizing an amendment allows for a clear and documented update to the original listing agreement, reflecting the new price. This method is standard practice and maintains the integrity of the transaction by keeping all parties informed and aligned regarding the listing changes. Other options may involve unnecessary complications or deviations from standard practices, such as contacting the local real estate board directly, which is not typically required for changes in listing agreements. Canceling the agreement and creating a new one could introduce delays and complications that are avoided by simply amending the existing agreement. Relying on the seller's signature alone may not suffice if formal procedures for amendments are required by the brokerage. Similarly, requiring a legal audit for a simple price adjustment would be excessive and impractical. Speaking directly with the brokerage manager for approval isn't typically necessary when a proper written instruction has already