Humber/Ontario Real Estate Course 3 Exam Practice

Disable ads (and more) with a membership for a one time $2.99 payment

Prepare for the Humber/Ontario Real Estate Course 3 Exam. Study with challenging questions and detailed explanations to enhance your understanding. Get ready to excel in your exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

When must Salesperson Davis inform Buyer Bouchard of the potential for multiple representation according to REBBA?

Before preparing an offer for Buyer Bouchard.
Prior to entering into a buyer representation agreement with Buyer Bouchard.
Immediately after Buyer Bouchard has signed a buyer representation agreement.
Just before presenting Buyer Bouchard's offer to the seller.
Upon the first meeting to discuss potential properties.
Once an offer is submitted from another buyer on the same property.

The correct answer is: Prior to entering into a buyer representation agreement with Buyer Bouchard.

In the context of the Real Estate and Business Brokers Act (REBBA), Salesperson Davis is required to inform Buyer Bouchard of the potential for multiple representation prior to entering into a buyer representation agreement. This requirement is put in place to ensure that the buyer fully understands the implications and the nature of the representation they are agreeing to. By disclosing this information before any formal agreement is made, the buyer has the opportunity to consider their options and decide whether they are comfortable proceeding under those circumstances. This early notification enables transparency and helps to establish trust between the salesperson and the buyer. The other options fail to grasp the critical importance of informing the buyer before any binding agreements take place, which is a fundamental aspect of professional conduct in real estate transactions.