Humber/Ontario Real Estate Course 4 Exam Practice

Which of the following is necessary for a brokerage under REBBA in a multiple representation scenario?

1. Notify both buyer and seller at property showing

2. Notify both parties when the offer is presented

3. Oral consent from both buyer and seller before the offer

4. Written consent from buyer and seller before any offer

5. Written consent only if requested by either party

6. Verbal consent from both buyer and seller after the offer

The correct answer is: Written consent from buyer and seller before any offer

In a multiple representation scenario under the Real Estate and Business Brokers Act (REBBA), the requirement for written consent from both the buyer and the seller before any offer is fundamental to ensure transparency, protect the interests of both parties, and maintain the integrity of the transaction. Written consent serves as a clear documentation that both parties acknowledge and agree to the brokerage representing them simultaneously, which helps prevent potential conflicts of interest. This requirement is crucial because it creates a formal record of consent, ensuring that both parties are fully aware of and agree to the implications of the brokerage representing them in the same transaction. It fosters trust in the process and lays a solid foundation for the brokerage's responsibilities under REBBA. The other options, while they may involve communication or acknowledgment processes, do not fulfill the legal requirement that safeguards both parties' interests in a multiple representation situation. Therefore, obtaining written consent is a necessary step to proceed with transparency and ethical practice in real estate transactions.