Holiday Closure

The OREA office will close for the holidays at 12 p.m. Tuesday, December 24th.  Normal business hours will resume on Thursday, January 2nd.  Happy Holidays!

Holiday Closure

The OREA office will close for the holidays at 12 p.m. Tuesday, December 24th.  Normal business hours will resume on Thursday, January 2nd.  Happy Holidays!

February 6th - 2004

Buyer Customer Service Agreement

OREA's new form 310 Buyer Customer Service Agreement is an ideal solution to this common problem.

OREA's new form 310 Buyer Customer Service Agreement is an ideal solution to this common problem.  As a result of signing this form, the buyer will be less likely to misinterpret the circumstances surrounding the relationship with the real estate brokerage and will not expect more from the sales representative or broker than he/she is entitled to expect. In the past Customers have not signed any agreement, but with this new form, buyers who are Customers can enter into a written agreement with the brokerage.

With the Buyer Customer Service Agreement the buyer acknowledges that:

  • The brokerage will be providing Customer service to the buyer and will not be representing the interests of the buyer in a transaction; and
  • When the brokerage is representing the Seller as agent or subagent, its primary duty will be to protect and promote the interests of its Client, the Seller.

The document also sets out the duties of the real estate brokerage to the buyer as Customer, which are:

  • To deal fairly, honestly and with integrity;
  • To exercise due care in answering questions and providing information; and
  • To avoid misrepresentation.

Unlike a buyer agency agreement, the Buyer Customer Service Agreement does not provide for any compensation to be paid by the buyer to the brokerage.

In addition, the agreement sets out the most essential terms of the buyer customer service, including the fact that the brokerage may not have verified and is not warranting the accuracy of the information supplied by the seller or listing broker; the fact that the firm may be receiving a finder’s fee from a lender; and that a consumer credit report may be obtained. The form also contains the buyer’s consent to the collection, use and disclosure of his/her personal information by the firm for the purpose of providing real estate services to the buyer and may be retained and disclosed to the real estate board for reporting, appraisal and statistical purposes (ie. similar consent language, for privacy compliance, as contained in the standard form Buyer Agency Agreement and the standard form Listing Agreement).

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Non-exclusive agreement When the buyer is a customer

For more information contact

Ontario Real Estate Association

Jean-Adrien Delicano

Senior Manager, Media Relations

JeanAdrienD@orea.com

416-445-9910 ext. 246

Ontario Real Estate Association
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The trademarks REALTOR®, REALTORS®, and the REALTOR® logo are controlled by The Canadian Real Estate Association (CREA) and identify real estate professionals who are members of CREA. The trademarks MLS®, Multiple Listing Service® and the associated logos are owned by The Canadian Real Estate Association (CREA) and identify the quality of services provided by real estate professionals who are members of CREA. Used under license.

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