Seller’s Obligations under the Listing Agreement

There are a number of duties, obligations and responsibilities of a Seller under the standard Form Listing Agreement from OREA.

List, set Offer price
Pay commission during currency and holdover period
Extended definition of Buyer
Offer cooperating commission
Make up any shortfall
Pay HST in addition
Consents to the payment of referral fees
Advise of any inquiries
Forward any Offers
If Seller accepts Offer during holdover, pay commission
Permission to show property
Permission for Buyers to fully inspect
Permission for both “for sale” and “sold” signs
Consents to property identification in advertising
Agrees no liability for advertising
Acknowledges place on MLS within 3 days of public marketing
Full right to sell
Make full disclosure of title issues and third party interests and claims
Listing Brokerage and representatives: Exemption from liability except gross negligence
Indemnification to agents in respect to Seller’s breach
Seller warrants the property is insured
Seller warrants spousal consent either executed or not necessary
Seller will execute further authorizations to Listing Brokerage to verify information
Seller consents to the use of the information
Listing binding upon successors and assigns
Schedule “A” will prevail over standard Form
Consents to e-signatures and electronic communication
Signs under seal, therefore Listing is effective immediately without any consideration
Acknowledges receipt of a copy

All of the above matters should be drawn to the attention of the prospective Seller prior to the execution of the Listing Agreement. If there are any particular issues to be discussed or explained in more detail, then, that should take place ahead of time.

Any questions should be answered before the Listing is signed. In fact, any specific questions could be identified and documented in an email.

Brian Madigan LL.B., Broker

Seller’s Obligations under the Listing Agreement

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