Humber/Ontario Real Estate Course 3 Exam Practice

What is typically required for a brokerage to legally advertise a property?

1. Verbal consent from the property owner.

2. Approval from the local real estate board.

3. Signed written authorization from the property owner.

4. Consent from the brokerage’s legal advisor.

5. An appraisal report of the property.

6. A pending sale agreement.

The correct answer is: Signed written authorization from the property owner.

The requirement for a brokerage to legally advertise a property is typically a signed written authorization from the property owner. This written consent serves as a formal agreement that empowers the brokerage to market the property on behalf of the owner, ensuring compliance with legal standards and establishing a clear understanding of the scope and conditions of the advertisement. It protects both the owner’s and the brokerage’s interests by clearly outlining the rights and responsibilities tied to the advertising process. In this context, other options do not fulfill the legal requirements as effectively. Verbal consent could lead to misunderstandings or disputes, whereas approval from a local real estate board is not a standard necessity for all forms of advertising. Consent from a brokerage’s legal advisor and an appraisal report are also not prerequisites for advertising a property. Lastly, a pending sale agreement pertains to ongoing transactions rather than initiation of advertising. Thus, the correct answer emphasizes the importance of having a documented agreement for clear authorization to proceed.