Humber Real Estate - Course 1, Module 2 questions with correct answers

What are the 2 types of offices a brokerage can have? CORRECT ANSWER - Main brokerage office - Branch office Does every branch office require a Broker of Record? CORRECT ANSWER No. Only 1 Broker of Record is required for the main office only. Each branch office is assigned its own Branch Manager to provide supervision, compliance with REBBA & handle all record management. When a brokerage has a property for sale, what is the brokerage identified as? CORRECT ANSWER The listing brokerage When a brokerage is working with a buyer, what is the brokerage identified as? CORRECT ANSWER The co-operating brokerage OR The buyer's brokerage (when it's a private sale, because the buyer's is the only brokerage listed in the agreement as the seller doesn't have one) The term 'Seller' (used by REBBA) is synonymous with the term '__________' which may be used in other legislation. CORRECT ANSWER Vendor