Humber/Ontario Real Estate Course 3 Exam Practice

A key requirement in the REBBA Code of Ethics involving multiple representation is:

1. The need to have both client and customer give their informed, written consent to the multiple representation

2. That at least one of the clients in the multiple representation give his or her informed, written consent

3. That all of the clients in the multiple representation give their informed verbal consent

4. That informed, written consent be given by all clients involved in that multiple representation

The correct answer is: That informed, written consent be given by all clients involved in that multiple representation

In the context of the Real Estate and Business Brokers Act (REBBA) Code of Ethics, the key requirement surrounding multiple representation is that informed, written consent must be obtained from all clients involved. Multiple representation occurs when a representative or brokerage is involved with more than one party in a transaction, which poses inherent conflicts of interest. The necessity for written consent ensures that all parties are fully aware of the implications of this arrangement and have actively agreed to it, thereby enhancing transparency and maintaining trust in the professional relationship. Having all clients provide this consent safeguards their interests and provides a clear record of their agreement, which is essential for compliance with ethical standards and legal obligations. In contrast, the other options suggest scenarios where not all clients give their written consent or imply a lesser standard of consent, such as verbal agreements. This approach does not meet the stringent requirements set forth by the REBBA, which seeks to protect the rights and interests of each client involved in the transaction.