Humber/Ontario Real Estate Course 2 Exam Practice

Salesperson Miller is reviewing a dual agency relationship with her clients. What must she ensure under the Code of Ethics?

1. Confidentiality agreements are signed by all parties.

2. Disclosure of all known property defects.

3. Recommendations for independent legal advice to the clients.

4. Equal representation and disclosure to both buyer and seller clients.

5. Bond agreements for all involved parties.

6. Given timeline for dispute resolution process.

The correct answer is: Equal representation and disclosure to both buyer and seller clients.

In a dual agency relationship, the salesperson represents both the buyer and the seller in the same transaction. The Code of Ethics requires the salesperson to ensure equal representation and disclosure to both the buyer and seller clients. This means that the salesperson must act impartially and provide all necessary information and disclosures to both parties without favoring one over the other. This helps uphold transparency and fairness in the transaction. Options A, B, C, E, and F are not directly related to the specific requirements of a dual agency relationship as outlined in the Code of Ethics. Although confidentiality agreements, disclosure of property defects, recommendations for legal advice, bond agreements, and dispute resolution processes are important aspects of a real estate transaction, in the context of a dual agency relationship, the most critical requirement is to provide equal representation and disclosure to both buyer and seller clients.