Humber/Ontario Real Estate Course 4 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 4 Exam. Test your knowledge with quizzes and gain valuable insights into real estate concepts, regulations, and practices essential for your success in the industry.

Practice this question and more.

When a salesperson shows a commercial property to his uncle and drafts an offer, what should he do?

Have another salesperson present the offer
Not disclose anything as the family relationship is irrelevant
Inform the seller client of the family relationship
Terminate his agency relationship and sign a buyer representation agreement

The correct answer is: Inform the seller client of the family relationship

In this scenario, the most appropriate course of action for the salesperson is to inform the seller client of the family relationship. This is crucial in order to maintain transparency and act in the best interest of all parties involved. By disclosing the family relationship to the seller client, the salesperson is being honest and upfront about any potential conflict of interest that may arise due to the familial connection. This transparency helps to ensure that all parties are aware of the relationship and can make informed decisions moving forward. It also demonstrates professionalism and ethical conduct in real estate transactions.