Ontario Real Estate Licensing Exam Practice · Question
Before entering into a multiple representation agreement, what is a key requirement for a brokerage?
REBBA requires that a brokerage obtain written consent from all clients involved before engaging in multiple representation. This ensures all parties understand
Start free practice for Ontario Real Estate Licensing Exam Practice
363 questions · no signup required · 40 free questions per day
Question: Before entering into a multiple representation agreement, what is a key requirement for a brokerage?
Answer options: ✅ Obtain written consent from all parties involved in the transaction.
- Inform the Real Estate Council of Ontario (RECO).
- Ensure the property is valued at over $500,000.
- Provide a discount on commission to both parties.
Correct answer: Obtain written consent from all parties involved in the transaction.
Explanation: REBBA requires that a brokerage obtain written consent from all clients involved before engaging in multiple representation. This ensures all parties understand the implications and agree to proceed under those conditions.
Start free practice for Ontario Real Estate Licensing Exam Practice
363 questions · no signup required · 40 free questions per day
More about Ontario Real Estate Licensing Exam Practice
Related Questions
- A buyer is considering a mortgage product that allows them to prepay a portion of their principal at any time
- A commercial property in Toronto is sold for $2,000,000. The vendor is an HST registrant. What is the buyer's
- What is the primary purpose of registering a deed under the Registry Act in Ontario?
- What is the primary role of a 'title search' in a residential real estate transaction in Ontario?
- A seller accepts a conditional offer. Before the conditions are fulfilled, the seller receives a firm, higher
- Which of the following is a common encumbrance that would be registered on title and affect a property owner's
More for Ontario Real Estate Licensing Exam Practice candidates
Study guides
Question explanations
- A buyer is considering a mortgage product that allows them to prepay a portion of their principal at any time
- A commercial property in Toronto is sold for $2,000,000. The vendor is an HST registrant. What is the buyer's
- What is the primary purpose of registering a deed under the Registry Act in Ontario?
- What is the primary role of a 'title search' in a residential real estate transaction in Ontario?
Ready to practice?
Free, no signup required. Build a wrong-question list as you go.
Start Free Ontario Real Estate Licensing Exam Practice Practice →Related courses
Other Canadian certifications candidates often prepare for alongside this one.