Humber/Ontario Real Estate Course 4 Exam Practice

Which is NOT an obligation included in a single representation buyer agreement?

1. Assisting in negotiating property prices

2. Negotiating the highest possible price

3. Disclosing material facts

4. Assisting with mortgage and inspections

5. Providing market analysis

6. Preparing all necessary paperwork

The correct answer is: Negotiating the highest possible price

In a single representation buyer agreement, an obligation typically includes assisting in negotiations regarding property prices, which is a standard expected role of a real estate professional in support of the buyer. Options that involve disclosing material facts, providing market analysis, and preparing necessary paperwork are also crucial responsibilities that ensure the buyer is well-informed and that legal processes are followed. However, negotiating the highest possible price is a more nuanced obligation. The primary duty of a buyer's representative is to secure a property at a price that reflects fair market value and aligns with the buyer's interests, but the ultimate decision on how much to pay rests with the buyer. This nuance indicates that while the representative may advocate for their client, they don't have a strict obligation to always negotiate for the "highest" price, as that may conflict with the buyer's own goals and flexibility in negotiations. Thus, the expectation of negotiating the highest possible price does not fit neatly within the standard obligations of a buyer representation agreement.