Humber/Ontario Real Estate Course 1 Exam Practice

Who is responsible for designating the broker of record in a real estate brokerage?

1. The real estate board

2. The managing broker

3. The employed salesperson

4. All company brokers jointly

5. The brokerage owner

6. The Office of the Registrar

The correct answer is: The managing broker

The managing broker is responsible for designating the broker of record in a real estate brokerage. This decision-making authority is typically assigned to the managing broker to ensure that the designated broker of record is qualified, knowledgeable, and capable of overseeing the operations of the brokerage in compliance with regulatory requirements. The other options - the real estate board, the employed salesperson, all company brokers jointly, the brokerage owner, and the Office of the Registrar - do not have the primary responsibility for designating the broker of record within a real estate brokerage.