Humber/Ontario Real Estate Course 1 Exam Practice

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Which of the following forms is NOT commonly used by real estate brokers and salespersons?

  1. Seller Representation Agreement

  2. Customer Service Agreement

  3. Valuation Agreement

  4. Agreement of Purchase and Sale

  5. Buyer Representation Agreement

  6. Listing Agreement

The correct answer is: Valuation Agreement

The Valuation Agreement is not commonly used by real estate brokers and salespersons in their routine transactions and service agreements. In contrast, the other forms mentioned are standard in real estate practices. For instance, the Seller Representation Agreement is crucial for establishing the relationship between brokers and sellers, while the Buyer Representation Agreement serves a similar purpose for the buyer's side. The Listing Agreement is essential as it allows brokers to list properties for sale, and the Agreement of Purchase and Sale is a fundamental legal document that finalizes the terms between buyers and sellers. The Customer Service Agreement, while less common than the others, can still be relevant depending on the context in which a broker operates. However, the Valuation Agreement typically represents a more specialized service, often utilized more in appraisal contexts rather than a routine transaction between buyers and sellers.

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