Humber/Ontario Real Estate Course 1 Exam Practice

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What is required if a buyer signs a buyer customer service agreement with a brokerage?

  1. A copy does not have to be provided as only sellers' agreements are subject to this

  2. A copy does not have to be provided as only representation agreements mandate this

  3. A copy must only be provided if the buyer specifically requests it

  4. A copy must be given immediately to the buyer

  5. A copy is optional based on brokerage discretion

  6. A copy must be filed with the local registry

The correct answer is: A copy must be given immediately to the buyer

When a buyer signs a buyer customer service agreement with a brokerage, it is mandatory that a copy of the agreement must be given immediately to the buyer. This ensures transparency and provides the buyer with documentation outlining the terms and conditions of the agreement they have entered into with the brokerage. It is a crucial step to keep all parties informed and accountable. The immediate provision of the copy also aligns with the regulatory requirements in real estate transactions to protect the interests of all parties involved. The other options are incorrect as they do not accurately reflect the requirement to provide a copy of the agreement to the buyer. Providing transparency in real estate agreements is essential to establish a professional relationship and ensure all parties are well-informed.

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