Humber/Ontario Real Estate Course 4 Exam Practice

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

At least one of the clients must give informed, written consent.
Informed verbal consent by all clients involved.
Only one client involved needs to give informed consent.
Written consent by all clients involved.
Written consent is not required for multiple representation.
Verbal consent is sufficient from all involved parties.

The correct answer is: Written consent by all clients involved.

The key requirement in the Code of Ethics regarding multiple representation is that written consent is necessary from all clients involved. This is crucial because multiple representation can create potential conflicts of interest, and obtaining written consent ensures that all parties are fully aware of the implications and have agreed to the arrangement. Written consent provides a clear and documented understanding of the clients' agreement to the representation, which protects both the clients' interests and the integrity of the real estate professional. It also demonstrates compliance with ethical standards and regulatory requirements, which is essential in maintaining professional accountability in real estate transactions. Requiring written consent from all clients ensures that each party is informed and consenting to the same course of action, thereby upholding transparency and trust in the relationship between clients and their real estate representative.