The Buyer Representation Agreement is the ultimate Agreement for Buyers to sign. When signing this form, the unprecedented responsibility, (fudiciary duty) of the Realtor® is to now always protect the Buyer.  This means the Buyers interests come ahead of the Seller's interests.  

Why Should I Sign a Buyer Representation Agreement?

• Reassurance of the duties the brokerage owes to the buyer.
• Included in those duties is full disclosure of all property information known to the brokerage.
• Peace of mind that your best interests will be protected.

The Real Estate Council of Ontario, a public agency formed to protect consumers, introduced guiding principles mandating that Realtors® ask their clients to sign a Written Representation Agreement at the earliest possible time. When choosing representation, homebuyers have the option to sign either a Buyer Representation Agreement or a Buyer Customer Service Agreement.

A Customer Service Agreement is a disclosure form that states that the realtor is NOT working for you as a buyer, but is providing customer service (fair and honest treatment, factual information about the property that is not visibly evident and to answer any questions you ask about the condition of the property) to you.
With customer status you are virtually "unrepresented" and in a "buyer beware" situation.

On the other hand, Buyer Representation Agreements state that the realtor is working for you and that you are bound to that realtor for the term of the agreement with a holdover period. In this case, your realtor is bound to you with fiduciary duties, (loyalty, obedience, full disclosure, duty to use skill, care and diligence, duty to account for all monies) and protects your information. It also allows the realtor to share his/her expert opinions, giving you full advantage of their knowledge and expertise. Furthermore, it then becomes their duty to answer questions that you may not even know to ask and their accountability is much higher.

There is nothing in the Buyer Representation Agreement that states that you have to buy anything. It only states that if you do that you will use this particular brokerage and that they will be compensated for the service provided.

Download the Buyer Representation Agreement  with each section explained.

Working With A Realtor® Brochure

Ideally we will be covering this at the earliest opportunity since through the process of working with a realtor you are likely to share some information which is private.  

What it is: A document that describes the relationship you as a buyer, seller, or any interested party must acknowledge receiving, reading, and understanding. It details the different relationships clients and realtors can have as well as the duties and responsibilities of each party. It also discloses to the buyer/seller what private information is collected and how it may be used.  

What it isn’t: It is NOT a contract. It does not obligate you to work with that realtor nor does it bind you in any way to having a relationship with that realtor. It does not obligate you to buy/sell anything.

It is merely an informative brochure which you must sign prior to the presentation of any contract (listing, purchase, or lease) and an acknowledgement that you have received, read, and understood the contents of that brochure. 

 Download Working with a Realtor® Brochure

All parties to a Real Estate transaction must comply with FINTRAC Guidelines

On June 23rd, 2008 new federal money laundering and anti-terrorist financing regulations came into effect that require real estate agents and brokers to collect personal identification information from buyers and sellers.Your REALTOR® requires this identification information to comply with the law. It is the federal Proceeds of Crime(Money Laundering) and Terrorist Financing Act (PCMLTFA) that requires financial institutions and real estate agents,among other professionals and services covered by the legislation, to identify customers who conduct financial transactions. These include depositing funds or buying and selling real estate. The Act also requires real estate agents to keep these identification records for five years. 

Download Fintrac Brochure