Humber/Ontario Real Estate Course 4 Exam Practice

Which statement is accurate regarding the information provided by a salesperson to potential clients?

1. Buyers and sellers must be informed if the brokerage is representing multiple clients in the same transaction when the offer is made.

2. The brokerage must outline the restricted nature of services provided to customers compared to clients.

3. Information about service alternatives must be acknowledged in writing by the buyer or seller.

4. Information on service alternatives should be provided as soon as possible.

5. The brokerage needs to provide details of all available service alternatives to clients.

6. Agents need to disclose any conflicts of interest in the transaction to clients as soon as possible.

The correct answer is: The brokerage must outline the restricted nature of services provided to customers compared to clients.

Option A is incorrect because it does not accurately describe the role of the salesperson in informing clients. Salespeople are not responsible for informing clients of multiple representations, this is the role of the brokerage. Option C is incorrect because information on service alternatives does not need to be acknowledged in writing, but rather provided to clients. Option D is incorrect because it does not specify the importance of time in providing information on service alternatives. Option E is incorrect because while salespeople should provide details of available service alternatives, this is not the responsibility of the brokerage. Option F is incorrect because it does not fully encompass the extent of disclosures that agents need to make to their clients. Agents are responsible for disclosing any known conflicts of interest to their clients, not just in the transaction.