Question:
An agent forgot to get a client to initial expiry date on the listing since the change with TRESA. Now client wants out of the listing and is using the missing initial as a reason. Can they cancel their contract?
Answer:
The problem here is that the legislation mentions this matter 4 times and specifically requires the Seller to initial. So, that is rather unusual and “over the top”. Nevertheless, it doesn’t contain any provision overruling contract law. So, the Listing may be valid under contract law. However, it is still a disciplinary offence to miss this.
Here’s the legislation
13.4 (1) A brokerage shall not enter into a written agreement with a buyer or seller for the purpose of trading in real estate unless the following requirements are satisfied:
1. The agreement clearly, comprehensibly and prominently, sets out the following information:
i. The date on which the agreement takes effect and the date on which it expires.
2. The expiry date is displayed prominently on the first page of the agreement.
3. The buyer or seller has initialled the agreement next to the expiry date.
(2) A brokerage shall ensure that an agreement referred to in subsection (1) contains only one date on which the agreement expires.
Brian Madigan LL.B., Broker