Humber/Ontario Real Estate Course 4 Exam Practice

What is correct about a seller customer service agreement?

1. The broker of record must sign the agreement on behalf of the brokerage.

2. The brokerage and its representatives have a legal duty to exercise due care when representing the seller under this agreement.

3. The brokerage has an ethical duty to the seller to deal honestly with that seller.

4. The time period for a seller customer service agreement cannot exceed six months.

5. The agreement includes a mandatory inspection clause.

6. A financial analysis report must be included.

The correct answer is: The brokerage has an ethical duty to the seller to deal honestly with that seller.

The focus of a seller customer service agreement emphasizes the ethical obligations of the brokerage toward the seller. In this context, the brokerage has a responsibility to provide honest dealings and maintain integrity throughout the transaction process. This ethical duty ensures that the seller is informed, treated fairly, and that their interests are prioritized. The importance of ethical behavior in real estate transactions cannot be overstated, as it helps build trust and credibility between clients and their representatives. This duty encompasses honesty in communication, transparency regarding the property and market conditions, and a commitment to act in the seller's best interest. The other options, while touching upon various aspects of a seller customer service agreement, do not encapsulate the fundamental ethical responsibility of the brokerage as specifically as the selected answer does. For instance, while the brokerage may have legal duties, the phrasing of these duties can vary and may not make them universally applicable. Additionally, certain provisions about time periods, mandatory clauses, and analyses may not be standard practice or legally required across all agreements.