Humber/Ontario Real Estate Course 3 Exam Practice

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Prepare for the Humber/Ontario Real Estate Course 3 Exam with our comprehensive quiz featuring multiple-choice questions. Enhance your understanding of real estate concepts and strategies to excel in your exam!

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Under what condition can a brokerage be entitled to remuneration after a representation agreement expires?

If the buyer purchases a property within the holdover period
As long as the same salesperson is involved
Only if the initial deposit is made through the same brokerage
If the property matches the criteria in the original agreement

The correct answer is: If the buyer purchases a property within the holdover period

If the buyer purchases a property within the holdover period, the brokerage can be entitled to remuneration even after the representation agreement expires. This is because the holdover period allows for the protection of the brokerage's efforts in facilitating the transaction with the buyer. The holdover period essentially extends the terms of the representation agreement for a specific duration after its expiration, ensuring that the brokerage is compensated for their work if the buyer purchases a property during this time. The other options are not relevant as they do not address the specific condition under which a brokerage can receive remuneration after the representation agreement expires.