That seems peculiar!
Here’s the clause:
“10. VERIFICATION OF INFORMATION: The Seller authorizes the Listing Brokerage to obtain any information affecting the Property from any regulatory authorities, governments, mortgagees or others and the Seller agrees to execute and deliver such further authorizations in this regard as may be reasonably required. The Seller hereby appoints the Listing Brokerage or the Listing Brokerage’s authorized representative as the Seller’s attorney to execute such documentation as may be necessary to effect obtaining any information as aforesaid. The Seller hereby authorizes, instructs and directs the above noted regulatory authorities, governments, mortgagees or others to release any and all information to the Listing Brokerage.”
(underlining mine)
Well, that was certainly buried in the “fine print”. Many people read it and missed it. Many agents fail to explain it to their clients who are about to sign a Listing Agreement.
Fortunately, there is a document drafted by OREA which explains in detail each paragraph in each document. It’s the red-lined version.
So, here’s the explanation about #10:
10. VERIFICATION OF INFORMATION: This section authorizes the Salesperson to obtain information from governments, mortgagees and others in order to help with the sale of the property
I have been looking for the reference to the Power of Attorney. I’m sure it’s in there somewhere. They wouldn’t just leave it out and ignore it. That wouldn’t be appropriate. I’ll have to read that again!
Brian Madigan LL.B., Broker
Comments 2
Now that I have read it as well, I am confused if the ‘power if attorney’ offered in the Listings agreement is an overkill. It’ cast too wide a net of permissions without looking at the consequences it could cause. Although it’s drafted to allow the Brokerage permissions to do what’s necessary, perhaps it needs to identify exactly what permissions are needed and why.
Author
I am not aware of any Brokerages exercising their rights under the Listing Agreement POA.