Humber/Ontario Real Estate Course 3 Exam Practice

What essential factor ensures valid representation disclosure between transactions?

1. Written consent.

2. Verbal agreement.

3. Implied understanding.

4. Witnessed by a notary.

5. Confirmed via email or text.

6. Recorded phone conversation.

The correct answer is: Written consent.

The essential factor that ensures valid representation disclosure between transactions is written consent. Written consent provides a clear, documented agreement that outlines the terms and conditions of the representation. It serves as a formal record which can be referenced in the future, providing legal protection for both parties involved. Having written consent is important because it reduces the risk of misunderstandings or misinterpretations regarding the terms of the agreement. It establishes a clear acknowledgment of the roles and responsibilities of the parties, ensuring that everyone is on the same page. Written agreements are also generally more enforceable in a legal context if disputes arise, as they provide tangible evidence of what was agreed upon. In contrast, other forms of consent, such as verbal agreements or implied understandings, can be vague and hard to prove, leading to ambiguity about the parties' intentions. Without written consent, it may be difficult to establish the validity and scope of the representation, potentially resulting in complications during transactions.