Humber/Ontario Real Estate Course 4 Exam Practice

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Which statement is accurate regarding seller representation agreements and listing data sheets?

All brokerages in Ontario must use the standardized method of living area measurement when including overall square footage on a residential listing.
The REBBA Code of Ethics requires that a standard listing data sheet form part of the seller representation agreement.
The legal description of the listed property does not have to be verified, if that information is already included on a previous listing agreement.
The lot size must be confirmed through a source document such as a survey or GeoWarehouse report.
The property's past sales history must be included in the listing data sheet.
The seller must sign every page of the listing data sheet.

The correct answer is: The legal description of the listed property does not have to be verified, if that information is already included on a previous listing agreement.

The accurate statement regarding seller representation agreements and listing data sheets is that the legal description of the listed property does not have to be verified if that information is already included on a previous listing agreement. This means that as long as the legal description has been recorded accurately in previous documents, there's no requirement to re-confirm it with every new representation agreement. This practice helps streamline the process for real estate professionals since a verified legal description from earlier documentation is considered sufficient for the purpose of engaging in a new listing. However, it is essential for the agent to ensure that all other representations regarding the property are reliable and that the seller fully understands what is included in the current agreement. In contrast, the other options highlight obligations or practices that may not apply universally or could diverge from common practices in Ontario. For example, the requirement for standardized measurements, specific documentation for lot sizes, or mandates for including past sales history may vary based on brokerage policies or local standards rather than being a blanket requirement across all transactions.