Humber/Ontario Real Estate Course 4 Exam Practice

When is the confirmation of cooperation and representation form typically signed?

1. Immediately after preparing and signing a listing or buyer representation agreement.

2. Before signing a customer service agreement.

3. By the listing brokerage only when there's a cooperating brokerage.

4. By buyer, seller, listing, and cooperating brokerages (if relevant) before an offer.

The correct answer is: By buyer, seller, listing, and cooperating brokerages (if relevant) before an offer.

The confirmation of cooperation and representation form is most commonly signed by the buyer, seller, listing, and cooperating brokerages before an offer is made. This step is crucial as it clarifies and formalizes the parties’ understanding of their respective roles and relationships in the transaction. By signing this form prior to any offer, all parties ensure transparency about who is representing whom, which helps to prevent any potential misunderstandings or conflicts of interest later in the transaction process. This timing allows all involved to have a clear understanding of their obligations and rights, which is essential for maintaining professionalism and adherence to regulatory requirements in real estate transactions. The form essentially lays the groundwork for how the transaction will proceed, aligning everyone's expectations and responsibilities from the outset. Options that refer to the signing of the form at other stages, such as immediately after preparing agreements or only by the listing brokerage, do not reflect the standard practice, which prioritizes clear communication before offers are negotiated.