Humber/Ontario Real Estate Course 3 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 3 Exam with our practice quizzes. Study using multiple-choice questions complete with hints and explanations. Ace your exam with confidence!

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What method of remuneration can a brokerage choose for selling a property?

Flat fee, as long as it does not exceed $10,000.
Flat fee and/or a percentage.
Flat fee only.
Percentage only.

The correct answer is: Flat fee and/or a percentage.

The correct answer reflects the flexibility that brokerages have in choosing their method of remuneration. Brokerages can opt for a flat fee arrangement, a percentage of the sale price, or even a combination of both. This allows brokerages to tailor their compensation structure to better align with their business model and the needs of their clients. A flat fee provides the advantage of predictability in costs, while a percentage might incentivize brokerages to secure higher sale prices for properties. This flexibility is important in the real estate market, where different properties and transactions may benefit from different remuneration strategies.