Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 2 Exam with our comprehensive quiz that covers essential concepts and topics. Enhance your understanding with multiple choice questions designed to test your knowledge and boost your confidence before the exam.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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When a brokerage represents multiple buyers interested in the same property, what must the brokerage do according to REBBA?

The brokerage must treat each buyer's interests equally.
The brokerage must disclose the existence of other buyers to each party.
The brokerage must withdraw representation from one of the buyers.
The brokerage must provide market data to all interested buyers.

The correct answer is: The brokerage must disclose the existence of other buyers to each party.

When a brokerage represents multiple buyers interested in the same property, according to REBBA (Real Estate and Business Brokers Act), the brokerage must disclose the existence of other buyers to each party. This is to ensure transparency and avoid any conflicts of interest that may arise from the situation. By disclosing the presence of other buyers, all parties involved can make informed decisions knowing that there is competition for the property. Option A is incorrect because while the brokerage must act fairly and honestly, they are not required to treat each buyer's interests equally in this specific scenario. Option C is incorrect as the brokerage is not mandated to withdraw representation from one of the buyers, but rather disclose the situation to all parties involved. Option D is incorrect as the brokerage is not required to provide market data to all interested buyers in this context, but they must disclose the existence of other buyers.