ON Residential Transactions Exam case studies
ON Residential Transactions Exam · Put your knowledge to work in context.
The Ontario Residential Transactions Exam is the assessment that Ontario real estate regulators and educator bodies use to confirm a candidate can handle the residential side of a trade competently and ethically. It is written for people who have finished the pre-registration education program and are preparing to register with the Real Estate Council of Ontario, and for registrants who want a structured refresher on residential practice. The ON Residential Transactions Exam case studies are 5 cases and about 4,162 words.
1The Pre-Listing Renovation Disclosure
A salesperson takes a listing on a 1962 detached bungalow in a mid-sized Ontario city. During the listing appointment the seller mentions, almost in passing, that the basement was 'finished a few years back' by a contractor who has since moved away.
885 words, about 4 min2The Dual-Agency Bidding War
A salesperson in a competitive urban market lists a semi-detached home at 899,000 with an offer date. The market is hot and the seller expects multiple offers.
853 words, about 4 min3The Deposit That Arrived Late
A salesperson negotiates an agreement of purchase and sale for a 640,000 resale home. The agreement requires a 25,000 deposit, payable 'upon acceptance' and held in trust by the listing brokerage.
821 words, about 4 min4The Tenant Who Wants to Buy
A salesperson represents a landlord who owns a tenant-occupied duplex. The landlord wants to sell the property vacant, and the tenant has been on a month-to-month lease for three years.
806 words, about 4 min5The Condo Status Certificate Timing Trap
A salesperson represents a buyer purchasing a resale condominium townhouse for 715,000. The agreement includes a condition: 'This offer is conditional upon the buyer receiving and reviewing the status certificate and the buyer being satisfied with it, in the buyer's sole discretion, on or before the fifth business day after acceptance.' The agreement is accepted on a Thursday.
797 words, about 4 min