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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What should be done by a brokerage before an offer is presented in multiple representation situations?

Obtain written permission from the seller client
Have written acknowledgment in place from both buyer and seller
Ensure the buyer is aware of brokerage duties
Guarantee the seller an exclusive contract
Secure a waiver from the buyer
Notify brokerage's legal team

The correct answer is: Have written acknowledgment in place from both buyer and seller

In multiple representation situations, where a brokerage represents both the seller and the buyer in a real estate transaction, it is crucial to have written acknowledgment in place from both the buyer and the seller before presenting an offer. This written acknowledgment helps ensure transparency, disclosure of potential conflicts of interest, and confirms that both parties are aware of the brokerage's representation of both sides in the transaction. This step helps protect the rights and interests of all parties involved and is an essential best practice in real estate transactions involving multiple representation. Options A, C, D, E, and F do not address the specific requirement for written acknowledgment from both the buyer and the seller, making them incorrect in the context of ensuring proper procedures are followed in multiple representation situations.