Humber/Ontario Real Estate Course 2 Exam Practice

What is one of the duties owed to both clients and customers in real estate transactions?

1. Disclose material facts in respect to the disposition or acquisition of a particular interest in real estate.

2. Protect and promote the interest of both client and customer.

3. Ensure that information provided by both customers and clients is kept confidential.

4. Representation agreements and agreements with customers must be put in writing and signed by both the brokerage and the client or customer.

5. Provide financial advice regarding mortgage options.

6. Ensure the property meets all local zoning requirements.

The correct answer is: Disclose material facts in respect to the disposition or acquisition of a particular interest in real estate.

One of the duties owed to both clients and customers in real estate transactions is to disclose material facts in respect to the disposition or acquisition of a particular interest in real estate. This duty is crucial as it ensures transparency and fairness in the transaction process, allowing clients and customers to make informed decisions. Options B, C, D, E, and F are not the correct answers because protecting and promoting interests, ensuring confidentiality, documenting agreements, providing financial advice, and verifying zoning requirements are important aspects of real estate transactions, but they do not specifically address the duty of disclosing material facts, which is fundamental in maintaining the integrity of the transaction.