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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Buyer Martin purchases a property introduced by Salesperson McLeod after the BRA expired but within the holdover period. What is correct?

Martin has no obligation due to property not being listed
Obligation to pay full remuneration even with new brokerage
Martin's actions meet criteria for paying remuneration
No remuneration since it was sold after BRA's expiry
No obligation since property was for sale by owner
Obligation to purchase through initial brokerage

The correct answer is: Martin's actions meet criteria for paying remuneration

Explanation The correct answer is C because even though the buyer Martin purchased the property after the BRA expired, it was still within the holdover period. The holdover period stipulates that if a buyer purchases a property that was introduced by a real estate agent or brokerage within a specified time period after the BRA expired, the agent or brokerage is still entitled to receive remuneration. Option A is incorrect as the holdover period still applies in this situation. Option B is incorrect because the buyer is not obligated to pay the full remuneration to the initial brokerage under the holdover period. Option D is incorrect because remuneration is still due during the holdover period. Option E is incorrect because the holdover period applies in this situation, where the property was introduced by a real estate agent. Option F is incorrect because the buyer is not obligated to purchase through the initial brokerage under the holdover period.