Humber Real Estate - Course 2, Module
2, Documenting Relationships with Sellers
and Buyers Exam 2026 Questions and
Answers
What 4 things must be specified on both representation and customer service
agreements? - Correct answer-- The effective date and expiry date of the agreement
(can only be one expiry date)
- The method for calculating commission or other remuneration payable to the
brokerage (in the case of a seller, the amount payable)
- How the commission or other remuneration will be paid
- The services that the brokerage will provide under the agreement
If the term of a representation or customer service agreement is more than 6
months, what must be prominently displayed on the first page, and requires an
initial by the seller/buyer? - Correct answer-The expiry date
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,If two sellers sign one representation agreement, is it acceptable to present them
with one copy of the signed document, if they sign in person at the same time? -
Correct answer-No. Each seller must receive their own individual copy of the
signed listing agreement.
Under REBBA, when might specific conditions allow remuneration to be paid
without a written agreement? - Correct answer-- A salesperson has conveyed a
written offer that is accepted by the seller
- A salesperson shows a property to the buyer, who subsequently purchases the
property
- The salesperson introduces the seller and the buyer, for the purpose of discussing
the acquisition or disposition of an interest in real estate
In what situations would the salesperson need to disclose the nature of the
relationship to both the buyer and seller? - Correct answer-- The brokerage is
representing both the seller and the buyer in the same transaction (i.e. both the
seller and the buyer are clients)
- The brokerage is representing the seller as a client and is providing services to the
buyer as a customer in the same transaction
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, - The brokerage is representing the buyer as a client and is providing services to
the seller as a customer in the same transaction
If a home is locked up properly after an open house, and then is broken into, is the
brokerage liable for the damages? - Correct answer-No. The seller agrees in their
representation agreement to indemnify the brokerage in case of damage, theft,
vandalism or fire that may occur during the marketing process, providing the
brokerage is not behaving negligently in carrying out its duties.
If a buyer agrees the brokerage should received a commission of 2.5% of the sale
price of any property purchased during the term of their agreement, and the seller
is providing 1.5% commission, how much commission will the buyer's brokerage
make? - Correct answer-2.5% as agreed to in the buyer representation agreement.
(Seller pays 1.5% and buyer pays the additional 1%)
What types of listings are there? - Correct answer-- Exclusive with one brokerage
- Placed on a listing service inviting co-operation from other brokerages
- Open listing
Define an 'Exclusive Listing' - Correct answer-The seller gives the sole right to
market and sell their property to one brokerage. The brokerage is authorized by the
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
2, Documenting Relationships with Sellers
and Buyers Exam 2026 Questions and
Answers
What 4 things must be specified on both representation and customer service
agreements? - Correct answer-- The effective date and expiry date of the agreement
(can only be one expiry date)
- The method for calculating commission or other remuneration payable to the
brokerage (in the case of a seller, the amount payable)
- How the commission or other remuneration will be paid
- The services that the brokerage will provide under the agreement
If the term of a representation or customer service agreement is more than 6
months, what must be prominently displayed on the first page, and requires an
initial by the seller/buyer? - Correct answer-The expiry date
©COPYRIGHT 2025, ALL RIGHTS RESERVED 1
,If two sellers sign one representation agreement, is it acceptable to present them
with one copy of the signed document, if they sign in person at the same time? -
Correct answer-No. Each seller must receive their own individual copy of the
signed listing agreement.
Under REBBA, when might specific conditions allow remuneration to be paid
without a written agreement? - Correct answer-- A salesperson has conveyed a
written offer that is accepted by the seller
- A salesperson shows a property to the buyer, who subsequently purchases the
property
- The salesperson introduces the seller and the buyer, for the purpose of discussing
the acquisition or disposition of an interest in real estate
In what situations would the salesperson need to disclose the nature of the
relationship to both the buyer and seller? - Correct answer-- The brokerage is
representing both the seller and the buyer in the same transaction (i.e. both the
seller and the buyer are clients)
- The brokerage is representing the seller as a client and is providing services to the
buyer as a customer in the same transaction
©COPYRIGHT 2025, ALL RIGHTS RESERVED 2
, - The brokerage is representing the buyer as a client and is providing services to
the seller as a customer in the same transaction
If a home is locked up properly after an open house, and then is broken into, is the
brokerage liable for the damages? - Correct answer-No. The seller agrees in their
representation agreement to indemnify the brokerage in case of damage, theft,
vandalism or fire that may occur during the marketing process, providing the
brokerage is not behaving negligently in carrying out its duties.
If a buyer agrees the brokerage should received a commission of 2.5% of the sale
price of any property purchased during the term of their agreement, and the seller
is providing 1.5% commission, how much commission will the buyer's brokerage
make? - Correct answer-2.5% as agreed to in the buyer representation agreement.
(Seller pays 1.5% and buyer pays the additional 1%)
What types of listings are there? - Correct answer-- Exclusive with one brokerage
- Placed on a listing service inviting co-operation from other brokerages
- Open listing
Define an 'Exclusive Listing' - Correct answer-The seller gives the sole right to
market and sell their property to one brokerage. The brokerage is authorized by the
©COPYRIGHT 2025, ALL RIGHTS RESERVED 3
