Office: 165 Pretoria Avenue, Ottawa ON. K1S 1X1

Phone: 613.238.2801

Fax: 613.238.4583

email: roberthof@royallepage.ca

royal lepage

Agency

Agency Law

What is agency?
Under agency law, the REALTOR® legally owes you the duties and obligations associated with agency: utmost care, integrity, confidentiality, and loyalty.

A stringent Code of Ethics and Standards of Business Practice guides all REALTORs®. It’s your assurance of fair and honest representation.

A REALTOR® must disclose, in writing, whose interests he or she represents in any real estate transaction. A REALTOR® may represent you both as a buyer, and as a seller. In some cases, the REALTOR® may represent both the buyer and the seller involved in the same transaction.


Seller Agency

is a term used in the context of the relationship between the REALTOR® and the Seller (or property owner) in the brokerage of homes, Seller Agency describes, in broad terms, the relationship between the Seller and the “Listing Agent”. The Listing Agent and the Seller enter a written contact (the “Exclusive Listing Agreement”) under which such particulars as home price, duration of agreement, commission, rights & obligations, duties, etc. are specified.


Buyer Agency

a REALTOR® agrees and contracts to represent the Buyer in her purchase of a home/property. Buyer Agency Agreements set out the main conditions of the relationship between the Buyer Agent and her Buyer Client including such things as the duration of the agreement, the commission to be earned/paid, and the various rights, duties and obligations of the parties.


Sub Agency

a REALTOR® who works with buyers and shows them properties but who owes his or her fiduciary duty to the seller.


Dual Agency

when the REALTOR® represents both the buyer and the seller in a single transaction.