Humber/Ontario Real Estate Course 3 Exam Practice

How should a listing brokerage handle inquiries from interested buyers as per the REBBA Code of Ethics?

1. Directly provide information requested by the buyers.

2. Refer any inquiries to the representing salesperson.

3. Refer all inquiries to the seller’s lawyer.

4. Ensure that the seller directs all inquiries to the brokerage.

5. Notify the buyers to contact the seller directly.

6. Forward inquiries to the property's developer.

The correct answer is: Ensure that the seller directs all inquiries to the brokerage.

The REBBA Code of Ethics emphasizes the importance of proper communication and representation in real estate transactions. When handling inquiries from interested buyers, a listing brokerage should ensure that any inquiries are directed to the seller. This approach not only maintains clear lines of communication but also ensures that the seller is fully aware of the potential interest in their property and can manage the conversations and information shared with buyers. By directing inquiries to the seller, the brokerage upholds its obligation to represent the seller’s interests effectively. This process prevents potential confusion and maintains a professional environment where the seller can control the flow of information regarding their property. This method also protects the integrity of the listing by ensuring that the seller is involved in any discussions that could lead to negotiations or offers. Establishing a direct line of inquiry to the seller allows for transparency and helps maintain the ethical standards set by the REBBA Code.