Humber/Ontario Real Estate Course 2 Exam Practice

What is allowed under REBBA Code of Ethics for a buyer representation agreement?

1. Cannot represent buyer without signed agreement

2. Broker approval required for agreements exceeding six months

3. Buyer initials below expiry date

4. Obtain separate buyer disclosure for long-term agreements

5. Sign notarized agreements for long-term commitments

6. Broker acknowledgment for all agreements

The correct answer is: Buyer initials below expiry date

Under the REBBA Code of Ethics, it is required that buyers initial below the expiry date on a representation agreement. This is a crucial step to indicate that the buyer has reviewed and understood the length of the agreement. It ensures transparency and clear communication between the buyer and their representative. The other options are not specifically required under the Code of Ethics for a buyer representation agreement.