Humber Real Estate - Course 1, Module

Humber Real Estate - Course 1, Module

5: Introducing the Real Estate and

Business Brokers Act (REBBA) What activities ARE permitted without a license? - Correct Answers ✅- 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 offers based on directions of a broker / salesperson
• Provide listing info to consumers (i.e. a flyer)
• Prepare promo material or place "For Sale" or "Sold" sign on

property

• Install lockboxes
• Attend open house w/broker or salesperson

What activities are NOT permitted without a license? - Correct Answers ✅- Be active participant in listing or offer presentation

• Explain or advise seller on changes to the listing agreement
• Receive/acknowledge a notice on behalf of a seller or buyer
• Show a property to a buyer
• Negotiate an offer w/seller or buyer
• Answer questions re: the listing info on a property 1 / 3

Humber Real Estate - Course 1, Module

5: Introducing the Real Estate and

Business Brokers Act (REBBA)

• Prospecting of any kind (i.e. phone solicitation or door

knocking)

• Access a property to assist a buyer or third-party

professional during an inspection

• Host an open house
• Blog about the real estate market

Who is exempt from registration to trade in real estate? - Correct Answers ✅- An auctioneer auctioning the property, equipment, livestock etc. of a retired farmer

• Full-time salaried employee at a new home builder's site

representing the builder in negotiations

• Lawyer settling an estate
• Financial institution disposing of a property under a

mortgage default

• Property owner selling their home privately
• Property manager leasing an apartment on behalf of a

landlord Does a person trading in seasonal / vacation rentals and commercial leases require registration? - Correct Answers ✅Yes, as the exemption only applies to a person who trades solely for the purpose of arranging leases under the Residential Tenancies Act. 2 / 3

Humber Real Estate - Course 1, Module

5: Introducing the Real Estate and

Business Brokers Act (REBBA) When can a salesperson begin trading in real estate? - Correct Answers ✅When they are notified in writing that they are registered with RECO.When there is an application for registration or renewal of a broker's license, what might become an issue? - Correct Answers ✅- Substantial unpaid debts and have not shown financial responsibility in resolving the matter

• Unpaid judgements
• Bankruptcy
• Personal insolvency
• Past conduct (that they may not conduct business with

integrity, honesty and in accordance with the law)

• Pending criminal charges
• Whether a license or registration of any kind has been

refused, suspended or revoked

• Non-disclosure or false statements

Can RECO refuse to grant registration if the applicant does not disclose they have substantial debt and are considering declaring bankruptcy? - Correct Answers ✅No.RECO cannot refuse registration on the assumption that the applicant is considering bankruptcy. The applicant can have the ability to rectify the situation.

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