Agency Law & The Agency Relationship

When working with a Realtor®, it is important to understand whom the Realtor® works for. To whom is the Realtor® legally obligated? Realtor®s are obliged to disclose in writing to all parties their agency position in a transaction.

Honesty and Integrity

Most real estate professionals in our province are members of the Ontario Real Estate Association (OREA) and only members of OREA and CREA (Canadian Real Estate Association) can call themselves Realtor®s.

When you work with a Realtor®, you can expect not only strict adherence to provincial laws, but also adherence to a Code of Ethics. And that code is very important to you because it assures you will receive the highest level of service, honesty and integrity.

Highest Professional Standards

Before receiving a real estate license, candidates must successfully complete an extensive course of study developed by OREA on behalf of the Ontario Government. And that is only the beginning: in the two years after receiving their license, the new professionals are required to successfully complete three additional courses as part of their articling with an experienced broker.

Realtor®s are governed by the legal concept of "agency." An agent is legally obligated to look after the best interests of the person he or she is representing. A Realtor® may be your agent - if you have clearly established an agency relationship with that Realtor®.

In real estate, there are 3 different possible forms of agency relationships: Seller's Agency, Buyer's Agency & Consentual Dual Agency.

Please have your Realtor® explain the 3 forms of agency to you in detail.