Humber/Ontario Real Estate Course 2 Exam Practice

Salesperson DiCosta assisted Buyer Khan in arranging financing, and the lender agreed to pay a finder's fee to DiCosta. In this situation, DiCosta:

1. Cannot accept the finder's fee, as this is not permitted under the buyer representation agreement

2. Can accept a finder's fee directly from the lender, provided that it does not exceed $300.00

3. Can receive the finder's fee if such remuneration is disclosed to the client and the amount is paid to Salesperson DiCosta by his employing brokerage

4. Should refuse the finder's fee and report the lender to the brokerage

5. Must notify the Real Estate Council immediately

6. Should only accept the fee if the buyer agrees in writing

The correct answer is: Can receive the finder's fee if such remuneration is disclosed to the client and the amount is paid to Salesperson DiCosta by his employing brokerage

In this situation, the correct answer is C. Salesperson DiCosta can receive the finder's fee if such remuneration is disclosed to the client and the amount is paid to Salesperson DiCosta by his employing brokerage. This is in line with the Real Estate Council of Ontario's rules and regulations regarding disclosure of any potential conflicts of interest or financial benefits in a real estate transaction. Options A, B, D, E, and F are incorrect because they do not align with the disclosure requirements and ethical standards set by the Real Estate Council of Ontario. Accepting a finder's fee without proper disclosure to the client or outside the permissible channels could raise issues of conflict of interest and breach of ethical obligations in a real estate transaction. It is essential for real estate professionals to uphold transparency and integrity in their dealings to protect both the interests of their clients and their professional reputation.