Humber/Ontario Real Estate Course 2 Exam Practice

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Prepare for the Ontario Real Estate Exam with our comprehensive Humber Course 2 Exam Practice quiz. Engage with multiple choice questions and detailed explanations, designed to help you excel.

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According to the REBBA Code of Ethics, what must be included in a custom 'seller representation agreement'?

Services to be performed by the brokerage.
A clause on 'Use and Distribution of Information', such as permission to publish photographs and property details.
A holdover provision that does not exceed six months.
A condition requiring the seller to refer all interested buyers to the brokerage.

The correct answer is: Services to be performed by the brokerage.

In a custom 'seller representation agreement' under the REBBA Code of Ethics, it is essential to include the services that will be performed by the brokerage. This is crucial as it outlines the specific services that the brokerage will provide to the seller during the representation period. Therefore, ensuring that the agreement clearly defines the services to be performed by the brokerage is in line with the ethical standards set forth in the REBBA Code of Ethics. Options B, C, and D are not typically requirements for a 'seller representation agreement' according to the REBBA Code of Ethics. While these elements may be included in an agreement under specific circumstances, they are not essential components that must be included as per the code.