Humber/Ontario Real Estate Course 2 Exam Practice

Disable ads (and more) with a membership for a one time $2.99 payment

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.

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

Practice this question and more.

Which document must be included in a residential real estate transaction to secure the brokerage’s commission?

The listing agreement
A buyer representation agreement
A commission trust agreement
A purchase and sale agreement

The correct answer is: The listing agreement

In a residential real estate transaction, the document that must be included to secure the brokerage's commission is the listing agreement (Choice A). The listing agreement is a contract between the seller and the real estate brokerage, outlining the terms and conditions of the agreement, including the amount of commission to be paid upon the successful sale of the property. By signing the listing agreement, the seller agrees to pay the specified commission to the brokerage for their services in selling the property. While a buyer representation agreement (Choice B) is important for outlining the relationship between the buyer and the brokerage, it does not secure the brokerage's commission in a residential real estate transaction. A commission trust agreement (Choice C) is not a standard document in a residential real estate transaction and is not typically used to secure the brokerage's commission. A purchase and sale agreement (Choice D) is a contract between the buyer and seller that outlines the terms and conditions of the sale, but it does not secure the brokerage's commission.