Selling a home in Regina
The information on this page is very important when buying or selling a home. I highly recommend that you read it start to finish. Note, the information on this page is provided by the Canadian Real Estate Association.
A REALTOR® must disclose to you in writing, who exactly they represent in any real estate deal. A REALTOR® may represent you as a buyer or a seller; he or she may also represent both buyer and seller in the same transaction. Your listing REALTOR® is, in law, your agent. An agent owes his or her client the duties of utmost care, integrity, confidentiality and loyalty. Make sure you discuss agency with your listing REALTOR®.
In some provinces, including Quebec, notaries perform the same role in the real estate transaction as lawyers do in other provinces. If you have any questions, check with a REALTOR®.
The process of selling a home with a REALTOR® starts with the Listing Agreement. It's a contract between you and the brokerage company that the agent represents. It is a framework for subsequent forms and negotiations. It's important the agreement accurately reflects your property details and clearly spells out the rights and obligations of all parties. Both you and the listing agent sign the listing agreement and each receives a copy. The agreement binds both parties to its terms and conditions.
Generally, in the agreement you appoint the brokerage company as your agent and give its representatives the authority to find a purchaser. The duration of the agreement is indicated, and the compensation is specified. The agreement also sets out the listing price, and accurately describes the property you are selling. That will include the lot size, building size, building style and materials, floor areas, heating/cooling systems, room sizes and descriptions.