Humber/Ontario Real Estate Course 3 Exam Practice

When representing both buyer and seller, the brokerage must:

1. Ensure impartiality and fairness to both parties.

2. Disclose all offers received to both clients.

3. Secure written consent of multiple representation from all parties.

4. Prioritize the interests of the seller to close the deal faster.

5. Share confidential information only if necessary.

6. Contact a legal advisor for conflict resolution.

The correct answer is: Secure written consent of multiple representation from all parties.

The correct answer highlights the critical requirement of securing written consent from all parties involved in a transaction where the brokerage represents both the buyer and the seller, a scenario known as multiple representation. This is essential because it ensures that both parties are aware of and agree to the brokerage's dual role in the transaction, which helps maintain transparency and trust. Securing this consent also adheres to regulatory and ethical guidelines set forth by real estate governing bodies, ensuring that all parties' rights are respected. It reinforces the brokerage's commitment to maintaining clear communication and managing potential conflicts of interest that could arise when acting on behalf of both the buyer and seller. By obtaining this written consent, the brokerage can navigate the complexities of dual representation while working to facilitate a fair transaction for all involved, fostering a professional environment that benefits the clients.