Ontario RE Essentials Exam study plan

Map the Ontario regulatory framework: TRESA/RECO licensing, brokerage and registrant duties, enforcement, and the Code of Ethics, citing at least 10 specific ethical obligations.

Distinguish fiduciary duties (loyalty, confidentiality, disclosure, obedience, accounting) from statutory and ethical duties, and write one scenario for each.

Explain consent and disclosure requirements for representation, conflicts, multiple representation, designated representation, and referral fees under current Ontario rules.

Apply FINTRAC obligations: identify and verify clients, determine third parties, screen for PEP/HIO status, keep records, and file suspicious transaction and large cash transaction reports for CAD 10,000 or more in cash.

Deconstruct the OREA Agreement of Purchase and Sale clause by clause: parties, property, chattels and fixtures, price and deposit, completion, requisitions, title, conditions, notice, and entire agreement.

Compare listing agreements, buyer representation agreements, and buyer agency contracts on term, expiry, holdover, commission, cancellation, and service obligations.

Draft clear condition clauses for financing, inspection, condominium status certificate, and sale of the buyer's property, plus matching waiver and amendment language.

Analyze common contract pitfalls: missing initials, deposit timing, irrevocability, communication of acceptance, counter-offers, late acceptance, and incomplete schedules.

Differentiate seller representation, buyer representation, multiple representation, designated representation, and self-represented parties, and identify when each arises.

Explain how to document informed consent, set service levels, and protect confidentiality within brokerage teams and designated representation.

Analyze conflicts of interest, referral arrangements, commission disputes, and termination or suspension of agency relationships.

Apply agency rules to 10 fact patterns, including a buyer who wants to see the brokerage's own listing and a seller who wants to keep offer details confidential.

Compare mortgage products: fixed and variable, open and closed, term and amortization, high-ratio and conventional, HELOC, bridge financing, and vendor take-back.

Calculate Ontario Land Transfer Tax, Toronto municipal Land Transfer Tax, first-time buyer rebates, and total closing costs for two sample purchases.

Explain the mortgage stress test, default insurance, down payment source verification, gift letters, and lender conditions.

Sequence the closing process: financing condition, lawyer engagement, title search, title insurance, adjustments, statement of adjustments, and key release.

Build a business practice plan covering brokerage models, independent contractor status, commission structures, trust account rules, record retention, errors and omissions insurance, and team advertising.

Explain estates and interests in land: fee simple, leasehold, life estate, easements, restrictive covenants, licences, joint tenancy, and tenancy in common.

Trace Ontario land registration: Land Titles versus Registry, parcel register, PIN, title qualifications, and executions.

Outline the planning hierarchy: Planning Act, Provincial Policy Statement, official plan, zoning by-law, minor variance, consent and severance, site plan, conservation authority, and heritage controls.

Distinguish a comparative market analysis from an appraisal and select comparables by location, sale date, size, style, condition, lot, and market segment.

Calculate adjusted values using dollar and percentage adjustments, bracketing, absorption rate, months of inventory, days on market, and sale-to-list ratio.

Build seller pricing and buyer valuation strategies that account for staging, timing, price reductions, competition, and negotiation range.

Interpret market statistics without misleading clients: median versus average, small samples, seasonal effects, and unreported or non-arm's-length sales.

Apply Ontario advertising rules to brokerage identification, truthfulness, testimonials, privacy consent, CASL, Competition Act issues, team names, and social media.

Design a marketing and business development plan covering database follow-up, farming, open houses, digital lead generation, and return-on-investment tracking.

Prepare an offer presentation: verify financing, review comparables, set strategy, advise on conditions and deposits, and document irrevocability and counter-offers.

Practice lawful multiple-offer and negotiation protocol: seller's direction, confidentiality of competing offers, equal treatment, anchoring, concessions, and avoidance of misrepresentation.

Take two full-length timed practice exams under exam conditions and review every incorrect answer back to its source rule or form clause.

Revisit weak domains using a personal error log and rework at least 30 missed questions until each is explained correctly.

Memorize key numbers and tests: land transfer tax rates and rebates, FINTRAC thresholds, deposit timing, condition periods, and contract acceptance rules.

Compile a one-page exam-day sheet with formulas, legal tests, disclosure steps, and closing timelines.