Humber/Ontario Real Estate Course 2 Exam Practice

When a real estate salesperson represents both the seller and buyer in a transaction, what is this scenario called?

1. Exclusive Agency

2. Multiple Representation

3. Open Listing

4. Single Agency

The correct answer is: Multiple Representation

This scenario is called multiple representation because the real estate salesperson is representing both the seller and buyer in the transaction. This is also known as dual agency, meaning both parties have the same agent. Option A refers to a situation where the seller only allows one real estate salesperson to sell their property, while still being able to sell it themselves without having to pay the agent's commission. Option C is when the seller allows any number of real estate salespersons to find a buyer for their property, with only the successful agent receiving a commission. Option D refers to a situation where the agent only represents either the buyer or the seller, but not both.