Course 1, Module 6, All Lessons. Flashcards
Complying with legislation is important because any violation can jeopardize the career of a salesperson and the reputation of the brokerage. Which of the following activities of a salesperson would be considered acceptable?
*Select all that are acceptable.
A) Accepting verbal assurances from a young-looking buyer that he is 18 years old and having him enter into a contract for a condominium unit.
B) Leaving the client’s information in an open file folder on top of a desk at the brokerage office.
C) Obtaining signatures electronically on a real estate agreement.
D) Accepting three consecutive cash deposits from the buyer of 5k each within a 24 hour period for the same transaction as that requires less paperwork.
C.
Considering all the legislation that a salesperson must comply with when becoming a real estate registrant can be a daunting task. However, rather than an expectation of perfect recall, a salesperson must definitely know where to look for information, must understand it, and most importantly, must know when to apply the legislation.
What reference would need to be used in the following situations?
- Correlate lettered options with numbered ones.
A) A salesperson is showing buyers a property with a single car garage. They would like to buy the property but require a double car garage. Based on side yard setback requirements in the zoning bylaw, the property may not be quite wide enough to permit the expansion of the garage.
B) A salesperson is representing a tenant and helping him find a rental accommodation. The tenant is really concerned about future rent increase.
C) A salesperson is representing a couple who recently got married and would like to buy a bigger house after selling their current house. The husband owns the current house and the wife is not on the title of this property.
1) Family Law Act
2) Residential Tenancies Act
3) Steps for applying for minor variance
A-3, B-2, C-1
Clients can rely on their salesperson for real estate knowledge and guidance. It is a salesperson’s duty to advise their clients and point them towards helpful resources or recommend the opinion of a lawyer or third-party experts whenever required.
*Choose the correct answer.
A) Advise a condominium buyer to learn about the management of the condominium board by referring to The Condominium Act, 1998
B) Advise a client that a security deposit for lease of a commercial property can be negotiated
C) Advise a client to apply for land severance for the creation of two separate lots from a single lot
D) Advise a buyer client to apply for rezoning if they want to purchase a property and continue an existing home-based daycare business that has been in operation since before the new zoning bylaws declared the area strictly residential
B
