Humber/Ontario Real Estate Course 1 Exam Practice

What statement is true regarding a brokerage customer?

1. A customer is usually a client

2. A customer can be a client of a different brokerage

3. A customer holds an agency relationship with the brokerage

4. A customer must sign a contractual agreement with the brokerage

5. A customer is always represented by multiple brokers

6. A customer has no right to information

The correct answer is: A customer can be a client of a different brokerage

The statement that a customer can be a client of a different brokerage accurately reflects the nature of customer relationships in real estate. A customer refers to an individual who engages with a brokerage in a transaction but does not have a formal client relationship or agency representation with that brokerage. This means that a customer may indeed be working with or represented by another brokerage for their real estate needs, which allows for flexibility and the ability to explore different options or services. In contrast, clients are those who have entered into a contractual relationship with a brokerage, signifying a commitment that encompasses fiduciary duties and a higher level of service. Therefore, the distinction between a customer and a client is key, as it underscores that a customer does not necessarily have exclusive ties to one brokerage, which is why the selected statement holds true.