Humber/Ontario Real Estate Course 2 Exam Practice

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If Seller Camden has not yet signed a representation agreement but has asked Salesperson Verona to bring offers, what should Salesperson Verona do before proceeding?

  1. Verona must ensure a signed representation agreement is obtained before any offer presentation.

  2. Saler Camden can accept offers without any formal agreement signed with Verona.

  3. Verona must draft, sign, and present the representation agreement concurrent with the offer.

  4. Camden's verbal confirmation is sufficient to proceed and present offers.

  5. Verona cannot submit an offer without the signed written representation agreement first.

  6. Verona must inform Camden about the necessity of signing a representation agreement at the time of the offer.

The correct answer is: Verona must ensure a signed representation agreement is obtained before any offer presentation.

In this scenario, the correct answer is A. salesperson Verona must ensure a signed representation agreement is obtained before any offer presentation. This is crucial because without a signed representation agreement in place, the salesperson does not have the legal authority to act on behalf of the seller Camden when it comes to presenting offers or negotiating terms on the property. Options B, D, and E are incorrect because conducting real estate transactions without a formal written representation agreement is against the rules and regulations set out by the Real Estate Council of Ontario (RECO). Verbal confirmation or informal agreements are not sufficient when it comes to legally representing a seller in real estate transactions. Option C is also not the best course of action because waiting until the offer presentation to draft and sign the representation agreement can lead to confusion, delays, and potential misunderstandings between the parties involved. Option F is not the ideal choice because waiting until the time of the offer to inform Camden about the necessity of signing a representation agreement might not leave enough time for the agreement to be properly reviewed and signed before the offer presentation. It is always best practice to have all necessary agreements in place before proceeding with any real estate transactions to protect all parties involved.

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