Humber/Ontario Real Estate Course 3 Exam Practice

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When can an agency relationship be created by ratification in real estate?

after the buyer's consent
after the seller acknowledges the salesperson's representation
when an open house is conducted
when property taxes are adjusted
when the buying party agrees
when title search is completed

The correct answer is: after the seller acknowledges the salesperson's representation

An agency relationship can be created by ratification in real estate after the seller acknowledges the salesperson's representation. Ratification occurs when the principal (in this case, the seller) accepts and agrees to be bound by the actions of the agent (the salesperson) that were taken on their behalf without prior authorization. In this scenario, once the seller acknowledges and accepts the salesperson's representation, the agency relationship is valid through ratification. While the other options may be steps or aspects involved in a real estate transaction, they do not specifically relate to the creation of an agency relationship by ratification. Conducting an open house, adjusting property taxes, completing a title search, obtaining the buyer's consent, or having the buying party agree do not directly lead to the establishment of an agency relationship through ratification.