Questions to ask before you sign

Ask these six questions before you sign, and get the answers from the agreement, not from memory.

Signing is the moment a conversation becomes an obligation. These are the six to settle before you sign in London, Ontario. Since 1 December 2023, TRESA requires the representation paperwork up front. Write each answer in your own words, then find it in the draft.

Who will be designated?

The agreement should name the person designated to represent you, or it should state that the brokerage represents you.

Ask out loud, then find the same answer on the page. Under designated representation, you name the person who represents you. The brokerage does not represent you in that model. Under brokerage representation, the brokerage itself is your representative, not one designated person. If the speaker says one and the draft says the other, do not sign yet. If the name line is empty, the draft is not finished.

What does the agreement cover?

It should list the services you are hiring, and it should leave you able to see what stays with you.

A client should expect the services that are written down. A self-represented party has no registrant on their side, so the seller's agent is not their advisor. Do not assume a side conversation added a service. If it matters, it belongs in the agreement. Ask what you must supply, and which decisions stay with you.

How long does the agreement last?

The draft should state a start and an end, or a term you can measure.

Point to the clause that says so. Ask whether the agreement stops on that date, or continues unless you act. This page will not tell you how long an agreement ought to be. The test is whether the copy in your hand states a term you can read, and whether that term matches what you were told.

What happens if you want to end it?

The agreement should say how the relationship can be ended, and what obligations remain if it ends early.

Ask before you need the answer. Ending the day to day work is not always the same as ending every duty in the document. If the ending language is missing, ask for it before you sign.

How will offers be handled if both sides are represented?

The handling should be in a written disclosure before an offer exists, and you should be asked to consent.

Under brokerage representation, multiple representation is the brokerage acting for more than one client in the same trade. Under designated representation, it is the same designated person acting for more than one client in that trade. Ask who will speak to you, and what you will not be told. If the spoken answer is warmer than the written one, believe the written one. This page will not invent the handling.

What are you expected to pay, and when?

The amount, when it is payable, and what you pay if no trade is completed have to come from the agreement, not from this page.

Find the clause. This page will not quote a figure or a percentage. If the clause is blank, the agreement is not ready. Ask when an amount becomes payable, and what you pay if no trade is completed. If you cannot restate the money language in one sentence, wait.

Take the six answers in writing. If a registrant will not walk the draft with you, that is information. Read what the rules require and the sequence on how to choose before you return to the agreement. Nothing here replaces that agreement, and nothing here is legal advice.