Listing Agreement Seller/Landlord Limited Services Representation Agreement Authority to Offer for Sale or Lease
This is a Multiple Listing Service® Agreement Between TheRealtyCommission.com (the Listing Brokerage) and:
This Listing Agreement is a Brokerage Representation Agreement in accordance with the Trust in Real Estate Services Act, 2002 (TRESA)
In consideration of the Listing Brokerage listing the real property for sale or for lease known as:
The Seller hereby gives the Listing Brokerage the exclusive and irrevocable right to create an MLS® listing
Seller acknowledges that the Listing Period is negotiable between the Seller and Listing Brokerage and, if an MLS® listing, may be subject to minimum requirements, however, in accordance with the Trust in Real Estate Services Act, 2002 (TRESA), the Brokerage must obtain the Seller’s initials.
[1] For the purposes of this agreement the owner(s) or authorized representative listing a property for sale or for lease is referred to as “The Seller”. This is a contract between The Seller and TheRealtyCommission.com [The Listing Brokerage] to provide an MLS® Listing for The Seller's property.
[2] COMMISSION: In consideration of the Brokerage listing the Property, the Seller agrees to pay the Listing Brokerage the amount indicated on the last page of this agreement in advance and is non-refundable. The Listing Brokerage authorizes the Seller to co-operate with any other registered real estate brokerage (co-operating brokerage) and to offer to pay the co-operating brokerage a commission at the Seller's sole and absolute discretion.
[3] The Seller acknowledges the Listing Brokerage is providing a "Mere Posting" of an MLS® listing as defined by the Canadian Real Estate Association (CREA) and will do so within the guidelines specified by CREA.
A Mere Posting is a limited service MLS® Listing where we agree to advertise your property on an MLS® system and will act in a fair, ethical and professional manner.
[4] The Seller directs the Listing Brokerage to provide the Seller's contact information in the "Remarks for Brokerages" section of the MLS® listing.
[5] The Seller warrants the information pertaining to the property as provided herein is accurate and further indemnifies the Listing Brokerage from any damages or claim brought forth pertaining to accuracy of said information.
[6] The Listing Brokerage will create and administer an MLS® (Multiple Listing Service) listing for the time period specified in this agreement on the Real Estate Board(s) of which they are a member at the Brokerages sole and absolute discretion.The listing will be visible on REALTOR.ca as well as any sites that share and syndicate it's data. The listing will be visible to agents that are members of the following Real Estate Boards who will be given permission to contact you directly in order to arrange appointments to view the property as well as negotiate an offer to purchase/lease: Cornerstone Association of REALTORS® comprised of: Mississauga Real Estate Board, REALTORS® Association of Hamilton-Burlington, Simcoe & District Real Estate Board, Waterloo Region Association of REALTORS®.
Listing on additional real estate boards and associations is available in some jurisdictions for an additional fee as outlined in the MENU OF MLS® LISTING SERVICES at the top of this form. AVAILABLE BOARDS:
1. Barrie & District Association of REALTORS® Inc. 2. Central Lakes Association of REALTORS® 3. Cornwall and District Real Estate Board 4. Kingston & Area Real Estate Association 5. London and St. Thomas Association of REALTORS® 6. Niagara Association of REALTORS® 7. North Bay and Area REALTORS® Association 8. OnePoint Association of REALTORS® 9. Oakville Milton and District Real Estate Board 10. Ottawa Real Estate Board 11. Renfrew County Real Estate Board 12. Rideau-St. Lawrence Real Estate Board 13. Timmins, Cochrane & Timiskaming Districts Association of REALTORS® 14. Toronto Regional Real Estate Board 15. Woodstock, Ingersoll, Tillsonburg & Area Association of REALTORS® 16. Chatham-Kent Association of REALTORS®.
[7] In the event the Seller is willing to pay commission to a Cooperating Brokerage, said commission will be paid directly by the Seller to the Cooperating Brokerage.
The Cooperating Brokerage is the agent representing the buyer or tenant in an MLS® transaction.
[8] The Seller may continue to sell and advertise the property in this MLS® listing privately.
[9] The Seller has the right to terminate this Agreement at any time for a fee of $75.00 plus HST.
[10] The Seller may edit the property information in this Agreement two times without additional cost. Additional edits may be applied for a fee of $35.00 plus HST each. Each change counts as one edit. Changes are limited to property details, description, asking price, commission offered and photos.
[11] The Seller has the right to extend this Agreement as per the options provided on the Listing Brokerages website: TheRealtyCommission.com. The extension must be purchased prior to the expiry date of this Agreement. An expired or terminated listing cannot be reinstated and new listing fees apply if re-listing with our Brokerage.
[12] The Seller Acknowledges the Listing Brokerage will not be providing the following services; optional services may be purchased for an additional fee on our website TheRealtyCommission.com:
[a] Determine the market value of the property for the purposes of this Listing Agreement.
[b] Provide professional advice or counsel the seller on all offers and counter offers.
[c] Schedule and confirm any appointments to show the property.
[d] Install a sign or Lock-Box on the property.
[e] Hold the deposit for any accepted agreement nor disburse funds accordingly.
[13] The Seller consents to the Listing Broker making changes to the property information posted on the MLS® System and Realtor.ca as required by the Broker and appoints the Listing Broker as attorney to affect such changes.
The Listing Broker retains this permission in order to ensure the information pertaining to the property is accurate as well as all MLS® rules are adhered to while the MLS® listing is active.
[14] The Listing Brokerage reserves the right to terminate this agreement in the event there is any contravention of MLS® rules. The Seller agrees to indemnify and hold harmless any liability or damages awarded against the Brokerage as a result of said contravention.
[15] The Seller acknowledges all fees paid to the Listing Brokerage pertaining to this Mere Posting are non-refundable.
[16] The Seller agrees to allow the property to be viewed by Cooperating member Brokers and their agents while the Property is listed on the MLS® system as per MLS® rules as well as be available for the registration of offers. The Seller is under no obligation to compensate the Cooperating Broker unless otherwise agreed upon, although the property must be available for showings and offers.
[17] WARRANTY: The Seller represents and warrants that the Seller has the exclusive authority and power to execute this Authority to offer the Property for sale or for lease.
[18] FAMILY LAW ACT: The Seller hereby warrants that spousal consent is not necessary under the provisions of the Family Law Act, R.S.O. 1990.
[19] VERIFICATION OF INFORMATION: The Seller authorizes the Listing Brokerage to obtain and use any reasonable information regarding the property to help market the property (i.e. land registry, tax information).
[20] USE AND DISTRIBUTION OF INFORMATION: The Seller consents that the Listing Brokerage may use personal information provided to them by the Seller in order to assist in marketing the property in this listing. This information will not be distributed to third parties. The Seller consents to placement of the listing information and sales information by the Brokerage into the database(s) of the appropriate MLS® system(s) which may be used and distributed at the Real Estate Board's sole discretion.
[21] SUCCESSORS AND ASSIGNS: The heirs, executors, administrators, successors and assigns of the undersigned are bound by the terms of this Agreement.
[22] Working with a real estate agent: Things you need to know- RECO INFORMATION GUIDE
The guide is produced by the Real Estate Council of Ontario (RECO) RECO regulates real estate agents and brokerages, educates consumers, and promotes a safe and informed real estate marketplace. RECO administers and enforces the Trust in Real Estate Services Act, 2002. Find out more on the RECO website (www.reco.on.ca).
Working with a real estate agent
Agents in Ontario must be registered, which requires completing the necessary education, and carrying consumer deposit insurance and professional liability insurance. Real estate agents provide valuable information, advice, and guidance to buyers and sellers as they navigate the complexities of real estate transactions.
If you are a seller, an agent can: • Advise you on market conditions and the best strategy to attract buyers and get the best price for your home • Market or advertise your home, including arranging photographs, videos and virtual tours • Provide referrals to other professionals you’ll need, like a lawyer or home staging company • Arrange and attend home inspections and appraisals • Arrange showings for interested buyers • Advise you on how to handle competing offers, sharing the content of competing offers, and other aspects of the transaction • Vet offers and potential buyers to ensure they can afford to buy your property • Negotiate with buyers to achieve the best results, price, and terms, for you • Guide you through paperwork and closing the transaction successfully
You will also benefit from the duties the brokerage and agent owe to you as a client
• Undivided loyalty- Your best interests are promoted and protected by the brokerage or agent representing you. As a client, your interests take priority over the interests of the brokerage, its agents, and any other party. • Disclosure- They must tell you everything they know about the transaction or your client relationship that could have an impact on any decisions you make. • Confidentiality- Your confidential information cannot be shared with anyone outside of the brokerage without your written consent, except where required by law, even after your client relationship ends. This includes, for example, your motivation for buying or selling, and the amount you would be willing to pay or accept. • Avoid conflicts of interest- They must avoid any situation that would affect their duty to act in your best interests. If a conflict arises, they must disclose it to you and cannot provide any additional services to you unless you agree in writing to continue receiving services.
You have responsibilities as a client
You need to: • be clear about what you want and don’t want and make sure you share all information that might be relevant (for example, you might want zoning that permits your intended use, maybe a home office or another specific use, or you might not want a property where there has been a violent crime); • respond to your agent’s questions quickly; • understand the terms of your agreement with the brokerage; and, • pay the fees you have agreed on, even if an agreement to buy or sell later falls through because of your default or neglect.
Know the risks of representing yourself
If you are involved in a real estate transaction and are not a client of a real estate brokerage, you are considered a self-represented party. This means that you have chosen to represent yourself, which has different rights and responsibilities. Very few buyers or sellers make this choice. There are significant risks to representing yourself in a real estate transaction if you do not have the knowledge and expertise required to navigate the transaction on your own. You will be dealing with a seller or buyer who is benefitting from the services, opinions, and advice of an experienced real estate agent. RECO recommends that you seek independent professional advice before you proceed as a self-represented party. If you choose not to work with a real estate agent, it will be your responsibility to look after your own best interests and protect yourself. This may include things like: • making inquiries about zoning, permitted property use, or any other aspect of the property; • determining what you believe to be the value of the property you are buying or selling; • determining how much you are willing to offer or accept; • navigating competing offer situations; • deciding what terms you want to include in an offer or agreement of purchase and sale; and, • preparing all documents.
The real estate agent is working for another party in the transaction
It’s important to be aware that the agent has a legal obligation to act in the best interests of the person on the other side of the transaction. If you are a buyer or even just inquiring about the property, for example, and the agent is working for the seller — the agent has a duty to do what’s best for their seller client. Be aware that the agent is obligated to share anything you tell them with their client, which might not be in your best interests to tell them, including: • your motivation for buying or selling the property; • the minimum or maximum price you are willing to offer or accept; and, • your preferred terms or conditions for an agreement of purchase and sale.
The agent cannot:
• provide you with any services, opinions, or advice; • do anything that would encourage you to rely on their knowledge, skill, or judgement; or, • encourage you to represent yourself or discourage you from working with another real estate agent or brokerage.
Any assistance the agent offers you:
• is a service to their client, not you; • is in the best interests of their client, not you; and, • is to help their client sell or buy a property.
Signing a contract with a real estate brokerage
When you become a client, you sign a representation agreement with the brokerage — a contract between you and the brokerage for real estate services and representation. If you don’t want to sign an agreement, you should not expect the real estate agent to provide you with any services, like showing you homes. Representation agreements can be called buyer representation agreements, or seller representation or listing agreements. Your agreement must be put in writing and presented to you as soon as possible. Protect yourself by reviewing the agreement in detail. This will help to avoid any misunderstandings between you and your real estate agent.
What to look for in a representation agreement
Your representation agreement should describe the duties owed to you, the services you will receive, your rights and responsibilities, what you will pay, and specific terms of the agreement, including how long the agreement will last and whether you can cancel it.
Brokerage representation:
The brokerage and all its agents represent you and must promote and protect your best interests, but one of the brokerage’s real estate agents may be your primary contact. They may provide referrals to other professionals you’ll need (for example, home inspectors, lawyers, contractors).
Scope
Your agreement should specify the scope of the engagement. If you are a seller, this means the agreement will identify the specific property.
Services
The agreement must clearly set out the services you will receive. There is no standard set of services — brokerages offer a variety of service options. You choose the services you want that best meet your needs. You might enter into an agreement with a brokerage for a specific purpose like, for example, having an agent prepare an offer on a property you want to buy, or viewing a specific property. Some sellers enter into an agreement solely for the purpose of having their property advertised on a local listing service. Ask the real estate agent about the available services or combination of services that may be right for you and your situation. If there are specific services you need or expect to receive, make sure they are included in the agreement or as a schedule to the agreement. Don’t assume a particular service will be provided if it’s not included in the agreement.
Payment amount and terms
You and the brokerage decide the amount you will pay for services. The amount is not fixed or approved by RECO, any government authority, or any real estate association or real estate board. You can agree to pay a fixed dollar amount, a percentage of the sale price, or a combination of both. The representation agreement cannot specify an amount based on the difference between a property’s listing price and what it sells for. Agreements must also identify circumstances in which the amounts agreed to might change and how they will change in each circumstance.
If you are a seller:
Your agreement needs to clearly indicate: • the amount you agree to pay your brokerage (or how it will be calculated) for the services and representation you receive; • the amount (or how it will be calculated) you agree to pay, if any, to compensate the buyer for their brokerage fees; and, • how the amounts you agree to pay might change if you consent to multiple representation.
Termination provisions
The agreement should list all circumstances when the agreement can be terminated. Review when the brokerage can terminate the agreement, and make sure you are aware of any penalties or costs that might apply in each case.
Expiry date
The agreement’s expiry date must appear prominently on the first page. There is no set time or standard term for a representation agreement: it can be in place for a day, a few weeks, or months. Consider how long you want the agreement to remain in place, and make sure you know when your agreement will expire. Keep in mind that a holdover clause could mean you owe money even after the expiry of the agreement.
How to make a complaint
Brokerage firms and real estate agents working in Ontario must be registered with RECO. Ontario brokerages and real estate agents are accountable for their conduct. If you have a concern:
First, contact your brokerage In many cases, your brokerage will be able to mediate or resolve your complaint about a real estate agent or the services provided under your representation agreement. Search for the brokerage in RECO’s Public Register to find the name of the broker of record (the person responsible for ensuring the brokerage complies with the law) and their contact information. Note that the brokerage cannot ask you to sign an agreement that requires you to withdraw a complaint to RECO or prevents you from making one.
Contact RECO
To file a complaint with RECO about a brokerage or real estate agent, visit the complaints section of the RECO website. The website explains the complaints process, possible outcomes, and how to file your complaint. RECO will review the issue, determine if it has the authority to deal with it, and what next steps, if any, it will take. Real Estate Council of Ontario 3300 Bloor Street West Suite 1400, West Tower Toronto, ON Canada M8X 2X2 Phone: 416-207-4800 Toll Free: 1-800-245-6910 Consumer inquiries: information@reco.on.ca www.reco.on.ca
Where to get more information
For more information about buying and selling property in Ontario: RECO’s website. For the legislation that governs brokerages and real estate agents trading in real estate in Ontario: Trust in Real Estate Services Act, 2002.
Seller's Signatures
[23] YOUR REPORTING OBLIGATIONS: The Seller agrees to deliver via email to the Listing Brokerage a copy of any firm or conditional Agreement of Purchase and Sale or Lease the Seller accepts in addition to any subsequent Waivers, Amendments or Releases from said Agreement within 24 hours of each event. This is required regardless if the negotiated deposit is not received.
[24] The Seller consents to allow the Listing Brokerage to continue to advertise the Seller's property as "Sold" or "Leased" on the Listing Brokerages websites.
[25] EXISTING CONTRACTS- The Seller(s) are not under contract with another licensed Real Estate Brokerage in Ontario
[26] ELECTRONIC COMMUNICATION: This Listing Agreement and any agreements, notices or other communications contemplated thereby may be transmitted by means of electronic systems, in which case signatures shall be deemed to be original. The transmission of this Agreement by the Seller by electronic means shall be deemed to confirm the Seller has retained a true copy of the Agreement.
[27] In consideration of the Listing Brokerage listing the Property, the Seller agrees to pay the Listing Brokerage the amount indicated in the menu of services below as selected by the Seller. Our Flat Fee MLS® Listing Services are paid in advance and are non-refundable.
SIGNATURE OF SELLER 1
SIGNATURE OF SELLER 2
SIGNATURE OF ADDITIONAL SELLER(S)
Payment Information
$ 0.00 CAD
After placing your order, please send a money transfer to us with the TOTAL indicated below via email to: listing@therealtycommission.com using your banking platform
