Ontario Real Estate Licensing Exam Practice · Question
When a salesperson is representing both the buyer and the seller in the same transaction, what specific consent is required from both parties?
Before engaging in multiple representation, a brokerage must obtain express written consent from all parties involved, explicitly acknowledging and agreeing to
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Question: When a salesperson is representing both the buyer and the seller in the same transaction, what specific consent is required from both parties?
Answer options:
- Verbal consent to proceed only ✅ Written acknowledgement of understanding the risks and benefits of multiple representation
- Implied consent through their actions
- Written consent for the agreement of purchase and sale
Correct answer: Written acknowledgement of understanding the risks and benefits of multiple representation
Explanation: Before engaging in multiple representation, a brokerage must obtain express written consent from all parties involved, explicitly acknowledging and agreeing to the arrangement, and understanding the risks and benefits. This is a fundamental requirement under the Code of Ethics, O. Reg 580/05, s. 10.
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