Ontario Real Estate Licensing Exam Practice · Question
What happens to the fiduciary duties owed to clients in a multiple representation scenario compared to a single agency relationship?
In a multiple representation situation, certain fiduciary duties, such as the duty to obtain the best price or to keep information confidential from the other p
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Question: What happens to the fiduciary duties owed to clients in a multiple representation scenario compared to a single agency relationship?
Answer options: ✅ Some fiduciary duties may be limited or reduced for both clients.
- Fiduciary duties remain exactly the same for both clients.
- Fiduciary duties are transferred to RECO for oversight.
- Fiduciary duties are enhanced to provide greater protection.
Correct answer: Some fiduciary duties may be limited or reduced for both clients.
Explanation: In a multiple representation situation, certain fiduciary duties, such as the duty to obtain the best price or to keep information confidential from the other party, must be limited. The brokerage and its agents cannot fully fulfill all typical fiduciary duties to both parties simultaneously.
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