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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In a written agency relationship for a home sale between a seller and a brokerage, what is true regarding the seller's duties?

  1. The seller owes loyalty to the brokerage in all dealings during the home sale period.

  2. An agency relationship is formed between the seller (principal) and the listing representative.

  3. The seller must pay the brokerage for all services rendered during the listing period.

  4. The agency relationship is created by a formal agreement.

  5. The seller must adhere to all suggestions made by the brokerage during the listing.

  6. The seller owes confidentiality duties to the brokerage.

The correct answer is: The agency relationship is created by a formal agreement.

In a written agency relationship for a home sale between a seller and a brokerage, the correct statement regarding the seller's duties is that the agency relationship is created by a formal agreement (Option D). This means that the agency relationship between the seller and the brokerage is established through a written contract that outlines the terms and conditions of their agreement, including the duties and responsibilities of each party involved. Options A, C, E, and F are incorrect: A. The seller does not owe loyalty to the brokerage in all dealings during the home sale period. Instead, the seller owes loyalty to the brokerage in the specific matters outlined in the agency agreement. C. While the seller may be required to pay the brokerage for the services rendered, this is not a duty of the seller but rather a contractual agreement between the parties. E. The seller is not obligated to adhere to all suggestions made by the brokerage during the listing period unless specified in the agency agreement. F. The seller does not owe confidentiality duties to the brokerage but rather to third parties, such as potential buyers, as outlined in the agency agreement.

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