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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When can a brokerage legally keep a portion of the remuneration in a real estate transaction?

If it was agreed upon in writing within the listing agreement and the seller consents
If the seller verbally agrees to it
If the initial offer price exceeds the sale price by more than 10%
Under no circumstances

The correct answer is: If it was agreed upon in writing within the listing agreement and the seller consents

A brokerage can legally keep a portion of the remuneration in a real estate transaction if it was agreed upon in writing within the listing agreement and the seller consents. This agreement must be documented in writing to ensure transparency and consent from all parties involved. Verbal agreements or deviations from the written contract do not hold the same legal weight and should be avoided in real estate transactions. Additionally, keeping a portion of the remuneration should be in accordance with the agreed terms and should not exceed what was explicitly stated in the listing agreement. The correct answer, Option A, aligns with the legal and ethical standards required in real estate transactions in Ontario.