Humber/Ontario Real Estate Course 1 Exam Practice

Which of the following Code of Ethics obligations are owed to a client but NOT to a customer?

1. Best Interests

2. Conscientious and Competent Service

3. Fairness, Honesty and Integrity

4. Disclosing Material Facts

The correct answer is: Best Interests

The correct answer is A. "Best Interests" is an obligation that a real estate professional owes to a client but not to a customer. When working with a client, a real estate professional must prioritize the client's best interests above all else, including their own interests. This duty requires the agent to act in a fiduciary capacity, putting the client's needs first and ensuring that all decisions and actions are made with the client's best interests in mind. In contrast, when working with a customer, the real estate professional does not owe the same level of fiduciary duty and loyalty as they do to a client. The other options, such as providing conscientious and competent service, acting with fairness, honesty, and integrity, and disclosing material facts, are obligations that real estate professionals owe to both clients and customers. These obligations are essential for maintaining professionalism, ethical conduct, and legal compliance in all real estate transactions, regardless of whether the individual is a client or a customer.