In Ontario, what information must be disclosed when a brokerage represents both the buyer and the seller in the same transaction?
Correct Answer
C) Multiple representation and its implications
Under O. Reg. 567/05 s. 22, made under the Trust in Real Estate Services Act, 2002 (TRESA), a brokerage may represent both buyer and seller in the same trade only after disclosing to each client the fact of multiple representation and the differences in the duties it would owe, the services it would provide and its remuneration arrangements, and after each client consents in writing. The superseded Real Estate and Business Brokers Act no longer governs this.
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