When can a real estate brokerage represent both the buyer and seller in the same transaction in Ontario?
Correct Answer
B) Only with written consent from both parties
Multiple representation (dual agency) is permitted in Ontario under TRESA, but only with the informed written consent of all parties involved. Both parties must understand the implications and agree to the arrangement before it can proceed.
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What is the primary fiduciary duty that a real estate agent owes to their client?
When must a real estate agent disclose that they are representing both the buyer and seller in the same transaction?
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A buyer's agent learns that the seller is motivated to sell quickly due to financial difficulties. What should the agent do with this information?
- → Under what circumstances can a real estate agent represent both parties in a transaction without written consent?
- → An agent discovers that a property has a history of flooding that was not disclosed by the seller. The agent's duty is to:
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- → An agent learns that a major development project will be announced near their client's property, likely increasing its value significantly. The client wants to list immediately at current market value. What is the agent's ethical obligation?
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