Humber/Ontario Real Estate Course 3 Exam Practice

For the purpose of compliance, what essential action must Brokerage Lead John take before distributing sold cards for a property listed by another agent?

1. He should independently notify all parties involved.

2. He must follow protocol through the listing agent for written consent.

3. Obtain verbal consent from the buyer client.

4. No consent is necessary for this type of advertisement.

5. Inform the regulatory board before distribution.

6. Request permission directly from the seller.

The correct answer is: He must follow protocol through the listing agent for written consent.

The correct approach for Brokerage Lead John involves following protocol through the listing agent for written consent before distributing sold cards for a property listed by another agent. In real estate transactions, it is crucial to respect the rights and confidentiality of all parties involved, particularly when it comes to information related to a property that is not directly under one's own representation. By seeking written consent from the listing agent, John ensures compliance with industry standards and protects the interests of the seller. This method also acknowledges the role of the original listing agent, maintaining professional integrity and fostering cooperative relationships within the real estate community. Other options, such as obtaining verbal consent or directly requesting permission from the seller, can create ambiguity and potentially lead to misunderstandings or conflicts. Additionally, notifying all parties involved or informing the regulatory board before distribution may not be necessary if consent is obtained following the proper protocol, further emphasizing the importance of adhering to established processes in real estate dealings.