Humber/Ontario Real Estate Course 1 Exam Practice

For the purposes of REBBA, a broker:

1. Is defined as the same as a salesperson.

2. Is the person responsible for achieving business goals.

3. Is employed by a real estate brokerage.

4. Manages the financial aspects of the brokerage.

5. Can be a corporation, partnership, or sole proprietorship.

6. Represents clients in legal proceedings.

The correct answer is: Is employed by a real estate brokerage.

The correct choice highlights the role of a broker within a real estate brokerage, which is a fundamental element of the Real Estate and Business Brokers Act (REBBA). A broker operates within the brokerage framework, serving clients by facilitating real estate transactions, supervising salespeople, and ensuring compliance with regulations. This position entails a level of authority and responsibility that is distinct to brokers within the industry. Understanding the brokerage structure is crucial, as it directly impacts how transactions are conducted and the legal obligations brokers hold toward clients and regulatory bodies. Brokers typically have more extensive qualifications and greater responsibilities than salespeople, reinforcing the important distinction between these roles within real estate operations. While other choices may touch on aspects of the real estate business, they do not capture the specific definition and primary function of a broker in relation to a real estate brokerage, which is why they are not the correct answer.