Humber/Ontario Real Estate Course 4 Exam Practice

Which of the following responsibilities do brokers and salespersons have towards their clients during offer presentation?

1. Fully review terms and conditions before signing.

2. Communicate only crucial offer terms, leaving minor details for later.

3. Emphasize urgency to accept quickly without thorough review.

4. Ensure clients sign before reading the offer.

5. Discuss all offer details only after the sale is completed.

6. Review only fiscal aspects of the offer with the client.

The correct answer is: Fully review terms and conditions before signing.

The responsibility brokers and salespersons have towards their clients during offer presentation is to fully review the terms and conditions before signing. This ensures that clients are fully informed about what they are agreeing to before entering into a binding contract. A comprehensive understanding of the offer details allows clients to make informed decisions that align with their interests and needs. Thoroughly reviewing the terms and conditions helps clients to grasp the implications and nuances of the offer—this includes, but is not limited to, purchase price, contingencies, timelines, and any additional clauses that might affect the transaction later on. It fosters a trusting relationship between the broker, the salesperson, and the client, as it demonstrates a commitment to transparency and client care. Understanding all aspects of the offer prevents misunderstandings or surprises after the agreement is signed, which could lead to disputes or dissatisfaction down the line. This practice is essential for maintaining ethical standards in real estate transactions and upholding the fiduciary duty that brokers and salespersons owe to their clients.