Humber/Ontario Real Estate Course 1 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 1 Exam with our comprehensive quiz. Test your understanding with multiple choice questions and detailed explanations. Build confidence and knowledge for a successful exam experience!

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What does a 'trade' in real estate encompass according to REBBA?

Direct activity in promoting the sale, but not indirect involvement.
Excludes open house events unless a sale is directly attributed to them.
Includes advertising a property and answering queries from prospective buyers.
Does not cover initial discussions with a property seller.

The correct answer is: Includes advertising a property and answering queries from prospective buyers.

The concept of a 'trade' in real estate, as defined by the Real Estate and Business Brokers Act (REBBA), indeed encompasses a broad range of activities. This includes not only advertising a property but also engaging with prospective buyers by answering their queries. These actions are essential components of the sales process, as they facilitate communication and information exchange, ultimately contributing to a potential transaction. In essence, the definition of 'trade' extends beyond just the promotion of a property; it involves direct interactions that help in executing a sale. This interpretation aligns with the comprehensive nature of real estate transactions, where fostering dialogue and providing information play significant roles in influencing buyers’ decisions.