Ontario Mortgage Agent Practice Exam

A principal broker plays an important role in a brokerage by overseeing compliance with regulations. This includes ensuring that all agents are following laws and regulations within the real estate industry, maintaining proper records, and upholding ethical practices. A principal broker is not directly responsible for property maintenance, handling tenant complaints, or resolving agent disputes. These tasks may be delegated to other team members within the brokerage, but it is ultimately the principal broker's responsibility to ensure compliance and maintain the integrity of the brokerage. Therefore, overseeing compliance with regulations makes a principal broker vital in a brokerage.