Humber/Ontario Real Estate Course 3 Exam Practice

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According to REBBA, how can remuneration be structured for a real estate transaction?

  1. As a flat fee only

  2. As a flat fee or percentage of the sale/rental price

  3. Only as a percentage of the sale/rental price

  4. Only based on a fixed government rate

  5. Based on competitive brokerage rates

  6. Determined solely by the brokerage after sale

The correct answer is: As a flat fee or percentage of the sale/rental price

Remuneration for real estate transactions can be structured in various ways, but according to REBBA, the most common and accepted methods are through a flat fee or a percentage of the sale or rental price. Other options such as a fixed government rate (D) or competitive brokerage rates (E) do not align with REBBA guidelines and may not provide fair compensation for all parties involved. Similarly, allowing the brokerage to solely determine remuneration after the sale (F) may not be a transparent or standardized approach. Therefore, the most appropriate and recognized way to structure remuneration in a real estate transaction is through a combination of a flat fee and a percentage of the sale or rental price, as stated in option B.

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