Humber/Ontario Real Estate Course 4 Exam Practice

What duty must be fulfilled to both clients and customers?

1. Disclosing material facts about a particular interest in real estate.

2. Protecting and promoting both the client's and customer's interests.

3. Ensuring confidentiality of information provided by both.

4. Having representation agreements and customer agreements written and signed by all parties.

5. Providing financial advice regarding the transaction.

6. Conducting personal follow-up after the transaction is concluded.

The correct answer is: Disclosing material facts about a particular interest in real estate.

Disclosing material facts about a particular interest in real estate is indeed a critical duty that must be fulfilled towards both clients and customers. This obligation is rooted in the necessity to maintain transparency and trust in real estate transactions. Material facts can significantly influence a buyer's or seller's decision, making it essential for an agent to disclose any pertinent information that may affect the transaction. When an agent provides this information, they ensure that clients and customers are fully informed, which supports ethical practices and helps to prevent any potential disputes or legal issues that could arise from nondisclosure. By fulfilling this duty, agents are working to protect the interests of all parties involved, as each has the right to be aware of any factors that may impact their decision-making process regarding a real estate deal. While other options mention important duties, such as protecting interests, maintaining confidentiality, ensuring agreements are signed, providing financial advice, and conducting follow-up, the specific duty of disclosing material facts is fundamental to the agent's role and directly impacts the transparency and legality of the transaction.