Humber/Ontario Real Estate Course 3 Exam Practice

What form is used to transfer a seller representation agreement to another brokerage?

1. A standard agreement form

2. An assignment form

3. An alteration form

4. A new listing form

5. A transfer form

6. A brokerage transfer form

The correct answer is: An assignment form

The assignment form is the correct choice for transferring a seller representation agreement to another brokerage. This form specifically facilitates the transfer of rights and obligations from one brokerage to another, ensuring that all parties involved are aware of the change and that the agreement is honored by the new brokerage. In real estate transactions, it’s essential to maintain clarity around representation agreements, and an assignment form serves to document the transfer process, ensuring continuity in service and compliance with legal requirements. This form captures the essence of the original agreement while allowing the new brokerage to take over the responsibilities associated with representing the seller. Other options, such as standard agreement forms, alteration forms, and new listing forms, are not specifically designed for transferring agreements. While they may have their own purposes in the real estate process, they do not provide the necessary framework for transferring representation between brokerages. The brokerage transfer form and the transfer form are also misleading in this context, as they do not accurately reflect the specific requirement for assigning representation agreements. Using an assignment form is the appropriate legal method that aligns with the needs of transferring seller representation efficiently and effectively.