Humber/Ontario Real Estate Course 4 Exam Practice

When sellers receive updated information during the listing process, what should they do?

1. Update buyers after the sale

2. Inform their salesperson immediately

3. Revise the listing agreement

4. Inform only if insisted

5. Keep it for future reference

6. Discuss it during closing procedures

The correct answer is: Inform their salesperson immediately

When sellers receive updated information during the listing process, it is crucial for them to inform their salesperson immediately. This is important because the salesperson relies on accurate and current information to effectively market the property, negotiate with potential buyers, and ensure that all legal obligations are met. The salesperson can respond appropriately to any changes, whether they relate to pricing, property conditions, or new disclosures that could affect the sale. Informing the salesperson puts them in a better position to advise the seller on the next steps, potentially adjust marketing strategies, and keep buyers informed. Prompt communication also helps maintain an effective working relationship and can ultimately lead to a smoother transaction process. In the context of real estate transactions, where timing is often critical, immediate communication about any updates is fundamental to the success of the sale.