Humber/Ontario Real Estate Course 1 Exam Practice

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What is the purpose of the Code of Ethics in real estate?

  1. Promoting consumer awareness

  2. Promoting high standards of professionalism

  3. Promoting advertising practices

  4. Promoting real estate transactions

  5. Promoting sales strategies

  6. Promoting regulatory compliance

The correct answer is: Promoting high standards of professionalism

The purpose of the Code of Ethics in real estate is fundamentally to promote high standards of professionalism. This code establishes guidelines and principles that real estate professionals must adhere to in their practices, ensuring that they conduct their business ethically and responsibly. By enforcing these standards, the Code of Ethics helps build trust between real estate agents and their clients, as well as among the public. The importance of maintaining high professional standards is emphasized through the Code, which covers various aspects such as honesty, integrity, and fairness in all dealings. This commitment to professionalism fosters a positive reputation for the industry as a whole, ensuring that all practitioners are held accountable for their actions. While promoting consumer awareness and regulatory compliance are important, the primary focus of the Code is to ensure that all professionals consistently uphold a high level of ethical behavior in their work.

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