HUMBER REAL ESTATE BUNDLED EXAMS 2023/24|ALL GRADED A+

What does REBBA stand for? Real Estate and Business Brokers Act Whose role is it to enforce REBBA? RECO Purpose of REBBA? provide a framework for the responsive regulation of the real estate profession to protect consumers and ensure the integrity of real estate transactions is uphe...

Real Estate and Business Brokers Act (REBBA) - regulates real estate trading - Ministry of Government & Consumer Services is responsible for it - RECO enforces it - provides a framework for the regulation of the profession to protect consumers & ensure integrity of interactions is upheld ...

Title Condominium owners hold ______ to their private living space (unit) and share ownership jointly of the common areas (common elements) with other owners in the condominium corporation. A legal entity that represents the collective interests of its property owners. What is the definitio...

What are the 2 types of offices a brokerage can have? - Main brokerage office - Branch office Does every branch office require a Broker of Record? No. Only 1 Broker of Record is required for the main office only. Each branch office is assigned its own Branch Manager to provide supervision...

The relationship between two parties in which one party (the agent) accepts responsibility for representing the other party (the principal) in dealing with a third party. Under Ontario law, how is an 'agency relationship' defined? Client & Customer While common law uses the terms 'Princi...

Define 'Estate' An interest in land that contains various rights associated with ownership or tenancy. What are the 2 most common types of estates? Fee simple & leasehold. What type of rights would be required to build a bridge, railroad or skyscraper? Air rights What type ...

- Attend a listing or offer presentation in a support role with a salesperson (i.e. taking photos or measuring rooms) - Set up listing files, complete marketing sheets, submit listings & changes to the MLS - Witness a seller or buyer signature - Schedule appts for a broker / salesperson - Draft ...

Humber Real Estate - Course 1, Module 4| 94 questions and answers.

Industrial buildings range from warehouses that are typically 25,000 to 100,000 square feet, to a ________________________. 7500 acre oil refinery What 3 categories are industrial properties divided into? - General Purpose - Special Purpose - Single Purpose Industrial properties ar...

- The effective date and expiry date of the agreement (can only be one expiry date) - The method for calculating commission or other remuneration payable to the brokerage (in the case of a seller, the amount payable) - How the commission or other remuneration will be paid - The services that the ...

The side of the street that abuts or borders a public street or highway - except for waterfront properties which is considered the side that border the body of water. Define 'Frontage' The distance between the front and the rear lot lines. Define 'Lot Depth' The distance between ...

Comparative Market Analysis What does CMA stand for? - The Appraisal Institute of Canada (AIC) - The Canadian National Association of Real Estate Appraisers What are the 2 organizations that designate appraisers in Canada? Canadian Residential Appraiser (CRA): - Qualified to unde...

What is a contract? A legally binding agreement between two or more persons, competent at law to enter into such agreement, for consideration or value, to do or refrain from doing something lawful. True or false? An oral contract for the acquisition or disposition of any interest in the land...

If you are unable to address these areas satisfactorily, you may need to conduct a further review with a lawyer or other third-party experts. Note: You may be asked to provide the lawyer (or third-party experts) with a verbal or written summary of the issue to address separately with the client. ...