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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When aware of a material latent defect in a listed property, what should Salesperson Buchanan do if asked about problems by a buyer client?

Inform the buyer about the latent defect
Advise the buyer to get an inspection
Refrain from commenting as he’s not an expert
Not mention anything as it affects many units
Redirect the query to the property owner
Suggest the buyer consult a legal professional

The correct answer is: Inform the buyer about the latent defect

Salesperson Buchanan should inform the buyer about the latent defect because this aligns with the ethical and legal responsibilities of real estate professionals to disclose material defects that could affect the value or desirability of a property. A latent defect is one that is not readily observable and can significantly impact a buyer's decision. By being transparent and providing this critical information, Buchanan ensures that the buyer can make an informed choice regarding the property. Choosing to inform the buyer also helps protect Buchanan from potential legal ramifications in the future, as failing to disclose such defects could be viewed as misconduct or misrepresentation. It’s essential for real estate professionals to act with integrity and uphold the duty of fairness in their transactions.