Humber/Ontario Real Estate Course 2 Exam Practice

In a situation where a property sells under a new listing with Brokerage B, 35 days after Brokerage A's listing expired and introduced the buyer, who is entitled to the remuneration?

1. Brokerage A would split the remuneration received from the seller, as the buyer was introduced by Brokerage A and the sale was effected through Brokerage B.

2. Brokerage B is not entitled to any remuneration, as the 90-day holdover provision within Brokerage A's listing agreement applies.

3. Brokerage B would receive the remuneration due under its listing agreement.

4. Brokerage A would receive a referral amount not to exceed 20% of the total remuneration.

The correct answer is: Brokerage B would receive the remuneration due under its listing agreement.

In this scenario, the correct answer is that Brokerage B would receive the remuneration due under its listing agreement. This is because the situation described indicates that the sale occurred under Brokerage B's listing, which means Brokerage B is entitled to the commission or remuneration as outlined in their agreement with the seller. Brokerage A's involvement of introducing the buyer within 35 days after their listing expired does not change the fact that the sale was completed under Brokerage B's representation and listing. Therefore, Brokerage B would be the party entitled to the remuneration for facilitating the sale. Options A, B, and D are incorrect because they do not align with the standard practice and regulations in real estate transactions.