Humber/Ontario Real Estate Course 4 Exam Practice

What is the correct term for two brokers representing clients negotiating the same property within the same agency?

1. Conflict of interest

2. Dual representation

3. Independent representation

4. Multiple representation

5. Exclusive agency

6. Single agency

The correct answer is: Multiple representation

The term that accurately describes the situation where two brokers representing clients negotiate the same property within the same agency is multiple representation. This term is used to denote a scenario where a real estate broker or firm works with multiple clients interested in the same property, which can lead to potential conflicts of interest and obligations to both parties. In this context, it is important for the agency to ensure transparency and manage any conflicts that arise due to the dual interests in the same transaction. The representation of multiple clients in a single transaction necessitates careful disclosure and consideration, as the broker has fiduciary duties to all parties involved. Options like dual representation may suggest that one broker is representing both sides in a transaction, which does not capture the essence of two separate brokers working under the same agency. Similarly, independent representation implies a clear separation of interests that doesn't apply here, while terms like exclusive agency and single agency refer to different forms of client-broker relationships, which are not relevant to the scenario presented.