Humber/Ontario Real Estate Course 4 Exam Practice

When must salespersons within a brokerage disclose details regarding home sale offers?

1. Only when requested by the buyer

2. Immediately after the offer is accepted

3. Before any contracts are signed

4. At the brokerage's discretion

5. Upon the seller's explicit request only

6. When confirming the number of offers received

The correct answer is: Upon the seller's explicit request only

In a real estate context, salespersons are obligated to disclose details about home sale offers primarily when directed by the seller. This means that the salesperson's responsibility is to provide information related to offers only when the seller explicitly requests it. This approach ensures that the seller maintains control over the information regarding offers and allows them to make informed decisions based on their preferences and strategy. This principle aligns with fiduciary duties, which emphasize loyalty and full disclosure to the client—in this case, the seller. When a seller asks for information about offers, the salesperson must comply, ensuring that the seller has all necessary information to evaluate the offers effectively. Disclosures made at other times, such as before contracts are signed or immediately after an offer is accepted, fall outside of this specific obligation and do not adequately represent the focused responsibility of salespersons concerning the seller's directive. Rather, such timings for disclosure might depend on various circumstances, including strategic seller decisions or brokerage policies, but must ultimately hinge on direct requests from the seller for specific offer details.