Humber/Ontario Real Estate Course 4 Exam Practice

If Buyer Batara signs a buyer representation agreement for seven months, what is required?

1. The broker of record must approve any agreement longer than six months.

2. Buyer Batara must initial below the expiry date line.

3. Salesperson Marshall must provide a separate disclosure for agreements over six months.

4. Salesperson Marshall cannot take an agreement longer than six months.

5. Buyer Batara must sign a waiver for longer agreements.

6. The brokerage must pay an additional fee to file the agreement.

The correct answer is: Buyer Batara must initial below the expiry date line.

In this scenario, option B is the correct answer because according to the requirements for a buyer representation agreement in Ontario, the buyer must initial below the expiry date line. This is a specific and necessary step to indicate the buyer's understanding and agreement to the duration of the representation agreement. Options A, C, D, E, and F are incorrect because they do not accurately reflect the requirements for buyer representation agreements in Ontario. It is important to understand the specific regulations and procedures involved in real estate transactions to ensure compliance with the law and to protect the interests of all parties involved.