Humber/Ontario Real Estate Course 4 Exam Practice

What is the purpose of the Confirmation of Co-operation and Representation form?

1. Is signed by the buyer and seller, but not the brokerage (or brokerages) involved in a specific transaction.

2. Can be used to obtain the seller's and buyer's written consent to multiple representation prior to an offer being made.

3. Is designed to meet the REBBA Code of Ethics disclosure requirement regarding information that must be provided before a buyer or seller enters into a representation agreement.

4. Is used for the sole purpose of disclosing the type of representation being provided to the buyer and seller by the brokerages involved in a specific transaction.

The correct answer is: Can be used to obtain the seller's and buyer's written consent to multiple representation prior to an offer being made.

The Confirmation of Co-operation and Representation form serves as a critical tool in the real estate transaction process, specifically addressing the need for clear communication about representation. The correct answer emphasizes that this form can be utilized to secure the written consent of both the seller and buyer regarding multiple representation before any formal offers are exchanged. This is crucial because it ensures that both parties are aware of the potential conflicts of interest that can arise when one brokerage represents both the buyer and the seller. Obtaining pre-approval for multiple representation helps to establish transparency and trust, which are essential elements in any real estate transaction. This proactive approach aligns with ethical practices, ensuring that buyers and sellers are fully informed about how their interests will be represented in the negotiation process. The necessity for consent is a reflection of the duty to uphold fairness and integrity within the industry. In contrast, the other options speak to aspects of the form's function that do not accurately capture its primary purpose. They may focus on elements of representation without addressing the consent for multiple representation or might highlight disclosure aspects that are covered through other documentation.