Humber/Ontario Real Estate Course 1 Exam Practice

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Prepare for the Humber Real Estate Course 1 Exam. Access our quiz with multiple choice questions and detailed explanations. Boost your readiness for the exam!

Each practice test/flash card set has 50 randomly selected questions from a bank of over 500. You'll get a new set of questions each time!

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Which entity is part of the three-way relationship in organized real estate in Ontario?

OREA.
SIOR.
RECO.
AIC.

The correct answer is: OREA.

In organized real estate in Ontario, the three-way relationship involves the seller, buyer, and the real estate brokerage. The real estate brokerage, represented by OREA (Ontario Real Estate Association), serves as the intermediary facilitating the transaction between the seller and the buyer. OREA regulates and sets the standards for real estate professionals in Ontario, ensuring professionalism and adherence to ethical practices in the industry. Therefore, option A, OREA, is the correct entity that is part of the three-way relationship in organized real estate in Ontario.