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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Which statement is accurate regarding a seller representation agreement?

Is an authority established between a real estate brokerage and a seller customer.
Typically includes property specifics that can be used by the brokerage to promote the property.
Is a legal authority given by the brokerage to the client.
Must be an exclusive agreement.
Needs to be renewed every month.
Is valid for one year from the signing date.

The correct answer is: Typically includes property specifics that can be used by the brokerage to promote the property.

The choice indicating that a seller representation agreement typically includes property specifics that can be used by the brokerage to promote the property accurately reflects the nature of such agreements. A seller representation agreement serves to establish a formal relationship between the seller and the brokerage, wherein the seller provides detailed information about the property. This information is vital for the brokerage to effectively market the property, set an appropriate listing price, and inform potential buyers about its features and benefits. By including property specifics, the brokerage can create more compelling listings and tailor their strategies for promoting the property in the market. Other options may contain information about the general characteristics of seller representation agreements, but they do not centricly emphasize the essential role of property specifics in marketing and selling the property.