Humber/Ontario Real Estate Course 4 Exam Practice

The requirements set by REBBA have accomplished which of the following?

1. Expanded duties owed to customers

2. Eliminated the concept of duty of care owed to customers

3. Made obligations to customers and clients the same

4. Narrowed the scope of legal obligations owed by brokerages to customers

5. Removed legal obligations to customers

6. Created a dual agency requirement

The correct answer is: Expanded duties owed to customers

The correct answer reflects the intent of the Real Estate and Business Brokers Act (REBBA) in Ontario to improve the level of service and professionalism in real estate transactions. Under REBBA, there has been a clear emphasis on the duties and responsibilities that brokers and salespeople owe to their clients and customers. Expanded duties meant that real estate professionals are now required to provide a higher standard of service, which includes acting in the best interests of their clients while also being transparent and fair to customers. This shift also underscores the importance of protecting consumers in real estate dealings, thereby promoting trust and integrity within the profession. The expansion of these duties often involves more detailed disclosures and a greater emphasis on ethical behavior, which ultimately benefits all parties involved in real estate transactions. In contrast, the other options either misinterpret the impact of REBBA or suggest a reduction of obligations, which is not in line with the legislation's goals of enhancing consumer protection and setting higher standards for professional conduct in real estate.