Ontario Real Estate Licensing Exam Practice · Question
A buyer's representation agreement must specify:
TRESA regulations require that a buyer's representation agreement clearly state the amount of remuneration payable to the brokerage, whether by the buyer or fro
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Question: A buyer's representation agreement must specify:
Answer options:
- The exact property the buyer intends to purchase. ✅ The commission payable to the brokerage, if any, and how it will be paid.
- A minimum number of properties the brokerage must show the buyer.
- The financial pre-approval amount obtained by the buyer.
Correct answer: The commission payable to the brokerage, if any, and how it will be paid.
Explanation: TRESA regulations require that a buyer's representation agreement clearly state the amount of remuneration payable to the brokerage, whether by the buyer or from cooperative commission, and the circumstances under which it is payable, ensuring financial expectations are transparent.
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