Humber/Ontario Real Estate Course 4 Exam Practice

Which persons are eligible to receive disbursement checks from the brokerage's commission trust account directly after a real estate transaction?

1. Co-operating brokerage and listing brokerage.

2. Employed salespersons and brokers of the listing brokerage only.

3. Employed salespersons, brokers of the listing brokerage, and the co-operating brokerage.

4. Mortgage lenders involved in the transaction.

5. Listing brokerage only.

6. Co-operating brokerage, employed salespersons and brokers, and the listing brokerage.

The correct answer is: Co-operating brokerage, employed salespersons and brokers, and the listing brokerage.

The correct answer identifies the full range of parties eligible to receive disbursement checks from the brokerage’s commission trust account following a real estate transaction. In this context, the disbursement of funds from a brokerage's trust account typically includes payments to the listing brokerage, the co-operating brokerage, as well as employed salespersons and brokers associated with these brokerages. This encompasses all parties who have rightly earned a commission from their participation in the transaction. Understanding the roles within a transaction highlights why the other options are incomplete. Some options focus solely on one group—like the listing brokerage or just the employed salespersons—overlooking the full scope of involved parties. Others may exclude either the co-operating brokerage or the listing brokerage. Thus, it is essential to recognize that eligibility for disbursement extends to all parties that contributed to the transaction, ensuring a comprehensive understanding of the financial disbursement processes in real estate. By covering all these roles, the correct answer reflects an accurate interpretation of the disbursement rules in real estate commission practices.