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 must salesperson Olenski do when asked about the seller's financial status by a prospective buyer?

Consult the broker of record first
Provide general hints about the seller's financial situation
Disclose all known information to the buyer for conscientious service
Keep any financial pressures of the client confidential
Refer the buyer to another salesperson

The correct answer is: Keep any financial pressures of the client confidential

When salesperson Olenski is asked about the seller's financial status by a prospective buyer, maintaining confidentiality regarding the financial pressures of the client is crucial. This obligation stems from the fiduciary duty that real estate professionals have toward their clients. Salespersons are required to protect the privacy and financial information of their clients unless expressly permitted to share that information. In this case, if Olenski discloses sensitive financial details without the seller's consent, it could breach the trust that the seller has placed in them. Therefore, keeping the seller’s financial pressures confidential not only aligns with the ethical standards of the real estate profession but also upholds the seller's interests and privacy. This is fundamental to ensuring a professional relationship where clients feel secure in sharing sensitive information without fear of it being disclosed to potential buyers.