Humber/Ontario Real Estate Course 2 Exam Practice

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When Salesperson Forrest from Brokerage A shows a property listed by Brokerage B, what action should Salesperson Forrest take regarding remuneration arrangements?

  1. Obtain a copy of Brokerage B's exclusive listing agreement to confirm remuneration arrangements

  2. Prepare a confirmation of co-operation and representation form and have it signed by an authorized representative of Brokerage B before an offer is presented

  3. Request a letter confirming remuneration after the offer is presented and accepted

  4. Seek verbal confirmation from Brokerage B that remuneration would be due if an acceptable offer is concluded

The correct answer is: Prepare a confirmation of co-operation and representation form and have it signed by an authorized representative of Brokerage B before an offer is presented

When Salesperson Forrest from Brokerage A shows a property listed by Brokerage B, the correct action to take regarding remuneration arrangements is to prepare a confirmation of co-operation and representation form and have it signed by an authorized representative of Brokerage B before an offer is presented. This form helps clarify the remuneration arrangements between the two brokerages and ensures that all parties involved understand the terms of compensation in case a successful transaction occurs. It is a standard practice to have this form signed to avoid any misunderstandings or disputes regarding remuneration later on. Option A is not the best course of action because simply obtaining a copy of Brokerage B's exclusive listing agreement may not provide a clear understanding of the remuneration arrangements agreed upon between the brokerages. Option C suggests requesting a letter confirming remuneration after the offer is presented and accepted, which could lead to complications if the terms are not agreed upon beforehand. Option D, seeking verbal confirmation, is not as reliable or professional as having a signed confirmation of co-operation and representation form in place before proceeding with presenting an offer.

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