The Regulations

Sales Representative

Kingsway Real Estate Brokerage

Rules-Regulations

All real estate sales representatives and brokerages in Ontario must be registered and insured by the Real Estate Council of Ontario (RECO), which regulates the trade of real estate for the government and administers the Real Estate and Business Brokers Act 2002 (REBBA 2002).

We must obey and follow the rules and regulation of REBBA 2002 and  Realtor Code of Ethics.  These rules address how we deal with Multiple Representation, our legal obligation as well as much more.

Did you realize that when you sign a listing agreement or buyer representation agreement with a sales representative, you have just entered an agency agreement (signed a contract) with the Brokerage and not the sales rep.

wikipedia An agency agreement is a legal contract creating a fiduciary relationship whereby the first party (“the principal”) agrees that the actions of a second party (“the agent“) binds the principal to later agreements made by the agent as if the principal had himself personally made the later agreements.

Every brokerage shall designate a broker who is employed by the brokerage as the broker of record. The broker of record shall ensure that the brokerage complies with this Act and the regulations.

Since you are under contract with the brokerage and not the sales rep. directly, the Broker of Record can remove the sales rep. you have and recommend another within the brokerage.

code of ethics

Sales Representative

Kingsway Real Estate Brokerage

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