Humber/Ontario Real Estate Course 3 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 3 Exam with our comprehensive quiz featuring multiple-choice questions. Enhance your understanding of real estate concepts and strategies to excel in your exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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What must a salesperson do according to the REBBA Code of Ethics when providing copies of the listing agreement to the seller(s)?

If two sellers are signing, each must be given one copy of the listing agreement as soon as possible, but no later than when the property is placed on the local listing service.
If two sellers are signing, each must be given one copy of the signed listing agreement as soon as it has been signed.
The salesperson must obtain one signed copy and immediately deliver it back to the brokerage; the seller can request a paper or electronic copy by contacting the brokerage at any time during the listing period.
The salesperson must obtain one signed copy that is retained by the employing brokerage; the seller must receive an electronic copy within 24 hours of signing the document.

The correct answer is: If two sellers are signing, each must be given one copy of the signed listing agreement as soon as it has been signed.

The selection is correct as it emphasizes the obligation that salespersons have under the REBBA Code of Ethics to promptly provide each seller with a copy of the signed listing agreement. The requirement that each seller receives their own copy as soon as it is signed enhances transparency and ensures that all parties are informed about the terms of the agreement. This practice is essential in maintaining trust and protecting the interests of the sellers. Providing copies of the listing agreement immediately after signing is important for legal reasons, as it helps confirm that both sellers understand their responsibilities and the details of the agreement. This approach minimizes confusion and potential disputes in the future, reinforcing the ethical standards that REALTORS® are expected to adhere to in their practice. This focus on prompt delivery of signed documents differentiates this correct response from others that might suggest different time frames or methods of delivery, thus underscoring the importance of clear communication in real estate transactions.